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2aa233f9-697e-4aa3-94d1-ecbc0bc58e5eThe proposed merger of Lloyds TSB and HBOS has put the UK’s merger control enforcement regime firmly in the spotlight, with the Government’s willingness to put competition law on hold grabbing many of the headlines. But when the Government says it will not allow competition rules to stand in the way of the transaction, it does not mean it will be immune to regulatory scrutiny. The new secretary of state for business enterprise and regulatory reform, Peter Mandelson, may yet face a delicate balancing act when it comes to justifying his final decision.

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