The Competition and Markets Authority (CMA) has published a supplementary interim report regarding its investigation into the merger of corporate travel management companies Global Business Travel Group, Inc (GBT) and CWT Holdings LLC (CWT). This report is part of the CMA's revised Phase 2 process, which allows for earlier engagement with merging parties.

In its initial findings from November, the CMA provisionally determined that the merger could substantially lessen competition. However, further analysis revealed that CWT is a significantly weaker competitor than previously assessed, suggesting that the merger may not harm competition as initially thought. The CMA has identified other suppliers that could provide alternatives to the merged entity.

Martin Coleman, chair of the independent panel, stated that the new Phase 2 process has facilitated a more flexible approach to the investigation, allowing for earlier publication of interim reports and increased engagement with businesses and third parties. The inquiry group is now seeking feedback on the supplementary interim report before making a final decision by March 9, 2025.

Additionally, it is noteworthy that on January 10, 2025, the United States Department of Justice filed a civil antitrust lawsuit to block the merger, which is currently pending in US courts.