Demant said that irrespective of the outcome of ongoing investigations by competition authorities, it remained committed to its decision to "discontinue" its Oticon Medical as it had already concluded it had no prospect of becoming a global leader in hearing implants within a reasonable timeframe.
The deal is also under investigation by the European Union and Australian antitrust regulators, and is pending clearance under French Foreign Direct Investment rules. The CMA has set a June 5 deadline for its in-depth probe of the deal, which Cochlear said was no longer expected to close before June 30.
The regulator said the combined entity would leave only a single supplier of passive bone conductive solution products in Britain and would dominate the supply of BCS products in the country, with a share well above 90%.
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