Octopus takeover of Bulb faces delay after rivals seek judicial review

Octopus paid a rumoured £100m to £200m to acquire Bulb, which has 1.5 million customers. Photograph: M4OS Photos/Alamy

The takeover of collapsed bailed-out energy supplier Bulb by rival Octopus faces further delays after three rival companies launched judicial review proceedings, arguing that there are “significant concerns” over a possible £1bn government-funded “dowry”.

Octopus agreed to buy Bulb out of a special government-handled administration last month after a year-long process which could cost the taxpayer up to £6.5bn, according to a government estimate.