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UPDATE 1-UK regulator provisionally clears NortonLifeLock-Avast $8.6 bln deal

·1 min read

(Adds comment, details and background)

Aug 3 (Reuters) - Britain's competition regulator said on Wednesday it has provisionally cleared cybersecurity firm NortonLifeLock's $8.6 billion purchase of rival Avast Plc.

Earlier this year, the Competition and Markets Authority (CMA) had launched a deeper investigation into the deal, noting it could harm competition and lead to British customers getting a worse deal when looking for security software.

The deal, which would combine NortonLifeLock's strength in identity theft protection and Avast's privacy, has already received the green light in the United States, Spain and Germany.

Both firms have had to delay closing date of the deal while awaiting regulatory nods from the UK and Spain.

NortonLifeLock on Wednesday forecast to close the deal by next month.

Following a more detailed Phase 2 investigation, the CMA said it concluded that the deal does not raise competition concerns in the UK.

It noted that the merger will face significant competition from McAfee and other smaller players.

(Reporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-Phillips)