July 30 (Reuters) - Britain's competition regulator said

on Tuesday it has found competition concerns over Global

Business Travel Group's ( GBTG ) planned $570 million

acquisition of CWT Holdings LLC.

The Competition and Markets Authority (CMA) said the deal

between the suppliers of business travel services to corporate

customers could lead to worsened quality of service, higher

prices and reduced innovation efforts.

"Following the merger, there would be a very small pool of

providers capable of catering to the business travel needs of

GMN (global multinational) customers," the regulator said in a

statement.

The CMA said the parties have until Aug. 6 to offer

undertakings to the watchdog to address the competition concern.

Global Business Travel ( GBTG ) announced its intention to

acquire CWT in March.