Three companies complain over lack of transparency around deal which could be biggest government bailout since RBS and Lloyds
The takeover of collapsed bailed-out energy supplier Bulb by rival Octopus faces further delays after three rival companies launched judicial review proceedings, arguing that there are “significant concerns” over a possible £1bn government-funded “dowry”.
Octopus agreed to buy Bulb out of a special government-handled administration last month after a year-long process which could cost the taxpayer up to £6.5bn, according to a government estimate.
Three companies complain over lack of transparency around deal which could be biggest government bailout since RBS and LloydsThe takeover of collapsed bailed-out energy supplier Bulb by rival Octopus faces further delays after three rival companies launched judicial review proceedings, arguing that there are “significant concerns” over a possible £1bn government-funded “dowry”.Octopus agreed to buy Bulb out of a special government-handled administration last month after a year-long process which could cost the taxpayer up to £6.5bn, according to a government estimate. Continue reading…
