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Byline: Nicola Hobday in London
The British government Friday, Nov. 8, blocked Vivendi Environnement SA's pound sterling2.05 billion ($3.2 billion) acquisition of southern England water and sewerage company Southern Water plc, pending further advice on competition remedies.
Vivendi Environnement agreed May 7 to take control of Southern Water by acquiring a stake in the utility from First Aqua Holdings Ltd., an investment vehicle that purchased Southern Water from Scottish Power plc in March.
Regulators said that the deal would operate against public interest because of Vivendi's other water assets in the country. It already controls Three Valleys Water plc, Tendring Hundred Water Services Ltd. and Folkestone & Dover Water Services …