- Digital automotive marketplace Auto Trader confirmed Wednesday it had received clearance from the Competition and Markets Authority to move forward with its joint venture with Cox Automotive UK.

The joint venture was expected to complete by the end of the year and a further update would be provided on completion, Auto Trader said.

The joint venture, which would be called 'Dealer Auction,' would provide the UK automotive market with a comprehensive online auction service, providing fleet companies, manufacturers and retailers with 'a more efficient and convenient way to dispose of their stock of vehicles,' the company added.

At 8:47am: [LON:AUTO] Auto Trader Group Plc share price was +0.35p at 417.35p

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