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Tags: APFN | EU | Britain | Supermarket Merger

UK Regulator Casts Doubt on Sainsbury's-Asda Merger

Wednesday, 20 February 2019 04:39 AM

LONDON (AP) — British regulators say the proposed supermarkets merger between Sainsbury's and Walmart's Asda unit would push up prices and reduce quality for shoppers, casting doubt on a deal that would create the country's biggest grocery chain.

The Competition and Markets Authority, in a preliminary report, said Wednesday it would be "difficult for the companies to address the concerns it has identified" and that a significant number of stores would probably need to be sold before it gains approval.

Stuart McIntosh, chairman of the independent inquiry, says "shoppers could face higher prices, reduced quality and choice, and a poorer overall shopping experience across the UK."

Sainsbury's shares fell over 12 percent. It says it will continue to make its case to regulators who "misunderstand how people shop in the U.K. today."

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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British regulators say the proposed supermarkets merger between Sainsbury's and Walmart's Asda unit would push up prices and reduce quality for shoppers, casting doubt on a deal that would create the country's biggest grocery chain.The Competition and Markets Authority, in...
APFN,EU,Britain,Supermarket Merger
131
2019-39-20
Wednesday, 20 February 2019 04:39 AM
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