Nationwide gets green light for £2.9bn takeover of Virgin Money

Regulator the CMA finds deal will not substantially affect competition for mortgages and credit cards Nationwide’s takeover of Virgin Money will not reduce competition for mortgages and credit cards, the competition watchdog has ruled, as it gave it the green light. The Competition and Markets Authoritysaid on Friday that the £2.9bn deal, the biggest in banking since the financial crisis, would not lead to a substantial lessening of competition in the home loans market.