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The Global Services division of BT faces another headache after the Competition & Markets Authority opened an investigation into the unit’s acquisition of Belgian rival IP Trade last month.

The small deal to buy the provider of communications services to trading floors and command centres has caught the eye of the competition watchdog given BT Global Services is already a provider of such services via its Radianz unit which supplies connectivity to the New York Stock Exchange.

Companies have until the end of the week to lodge an objection with the CMA due to decide whether to clear the merger by early May.

BT’s Global Services unit has been in the headlines this year after an accounting scandal at its Italian division triggered a profit warning and raised questions about management control across the company.

Copyright The Financial Times Limited 2018. All rights reserved.

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