National Grid's $11 bln purchase of WPD cleared

Britain's competition and markets Authority (CMA), a competition regulator, said it had cleared National Grid's proposed purchase of British electricity distribution business, which was announced in March, and will not refer the deal to a long investigation.

The authority said the deal does not merit a Phase 2 investigation under the provisions of the Enterprise Act 2002.

National Grid agreed to buy Western Power Distribution (WPD),, from the U.S.-based PPL Corp for US $11 billion.