The CMA was working closely with the European Commission, which had also launched an investigation into the sector back in October 2023.

Today the cartel watchdog announced it had closed its investigation on the grounds that it no longer constituted an administrative priority.

The statement said:  “Having given the parties the opportunity to comment on the CMA’s proposed action, the CMA has decided to discontinue its investigation into all parties involved on the grounds of administrative priorities.

“To make efficient and effective use of public resources, the CMA needs to ensure it takes appropriate decisions about which projects and programmes of work it prioritises, to have the greatest impact across the breadth of its work.

“This decision does not amount to a statement or finding as to whether the parties to the investigation have infringed competition law, nor should any inference be made to that effect.”

It added the decision did not prevent the watchdog from opening an investigation in the future if its priorities change or if it received new evidence.