ZPG’s purchase of software company Expert Agent earlier this month has been called in by the Competition and Markets Authority (CMA) and is now under review, prompting shares in ZPG to drop this morning.The CMA has served an initial enforcement order to ZPG under section 72(2) of the Enterprise Act 2002.The announcement was made by ZPG this morning, saying that “having been informed of the review and the order ZPG is now engaging in a consultation with the CMA and will make a further announcement in due course”.The move has been widely anticipated within the industry after ZPG acquired Expert Agent – which trades under the name Websky Ltd – from private equity firm Metropolis. It in turn bought the company off founder Mike Griffiths in 2004.The ZPG acquisition of Expert Agent gave it a substantial slice of the UK agent software market, as it had already bought Property Software Group in April 2016.PSG at the time of acquisition by ZPG claimed to be used by over 40,000 estate agent letting agent branches across the UK, while Expert Agent is used by over 2,500 branches.The CMA has been in the warpath within the property industry of recent, fining four estate agents in Burnham on Sea a total of £370,000 over an illegal price-fixing cartel in the seaside town, and is now offering £100,000 rewards to agents who report similar anti-competitive in their areas.PSG CMA Competition and Markets Authority Expert Agent Zoopla March 31, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Agencies & People » ZPG purchase of Expert Agent to be reviewed by competition watchdog previous nextAgencies & PeopleZPG purchase of Expert Agent to be reviewed by competition watchdogShares in the group drop after announcement first thing this morning.Nigel Lewis31st March 201702,568 Views
each reporter Zhang Wen
this year, the Chinese people on the Internet to buy 4 trillion yuan of goods, ranking first in the world. In fact, the "three carriages" in the consumer power is still strong. Ministry of commerce data show that in 2015 the annual total retail sales of social consumer goods is expected to reach 30 trillion yuan, ranking the world’s top second, the contribution of consumption to economic growth of nearly 60%.
NBS spokesman Sheng Yun said, "from the demand structure of investment and export led to the changes in the coordinated combination of consumption, investment and exports, the contribution of consumption to economic growth rate has significantly increased."
actually from last year, the contribution of consumption to the economy has reached 60%." China CCPIT Research Institute researcher Zhao Ping told the "daily economic news" reporter, "to maintain such a high in 60% to continue this year, so the consumption to economic contribution rate in the first three carriages".
consumption pull 60% GDP
Ministry of commerce data show that this year’s contribution to economic growth of nearly 60%. The layout of the reform of the commercial system, the reform of the circulation system, will further stimulate the consumption of the carriage to stimulate economic growth horsepower".
this year, the Ministry of Commerce to carry out the comprehensive development of domestic circulation system reform pilot, select a pilot project in Shanghai, Nanjing, Zhengzhou, Guangzhou, Chengdu 9 City, will be in one year, a group of replicated experience and pattern formation in the development of circulation innovation promotion mechanism, market regulation, system development model, infrastructure management system etc..
recently, the pilot reform program has been issued in the pilot city, taking Shanghai as an example, in the reform to establish a market decision, promising government, social collaboration "three-in-one modern circulation mode of governance, and the construction of regional market integration, innovation and development of circulation standardization pilot demonstration area, circulation and circulation of public service platform the credit information service platform, market supervision platform of six key tasks as a pilot work.
by the State Administration for Industry and Commerce in charge of commercial system reform, is expected to further emancipate the main body of the market, to provide a more relaxed market environment. Statistics show that as of the end of November, the national registration of new market players 13 million 215 thousand, year-on-year growth of 14.1%, in the newly established enterprises, the third industry accounted for 80.7%, 2 percentage points higher than in 2014.
Zhang Mao, director general of the State Administration of industry and Commerce
believes that in 2016 to further deepen the reform of the commercial system, will release the potential of consumption stimulating economic growth.
Zhao Ping told the "daily economic news" reporter, "the Chinese facing downward pressure on economic growth, foster new economic growth point is the steady growth of the way, and the consumer demand is undoubtedly one of the important part; on the other hand, from the point of view of market demand, consumer demand is the final demand of the market. No matter what the investment, import, or ultimately, have to have consumer demand as a guarantee, this