U.K. government regulators have cleared the way for the 550 million pounds sterling (about $301.5 million) acquisition of the home shopping arm of retail giant Gus by the Barclay brothers, according to news reports.
Officials ruled that the deal for Shop Direct would not hurt consumers even though Sir David and Sir Frederick Barclay control the Littlewoods chain, which has its own mail order wing.
British Trade and Industry Secretary Patricia Hewitt confirmed clearance for the acquisition of Shop Direct and home delivery arm Reality by March UK, which is owned by the twins.
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