Sainsbury’s and Asda ask competition body for more time
The deal between Sainsbury’s and the British arm of Walmart could see the combined group leapfrog Tesco as market leader
London — Sainsbury’s and Asda, the two British supermarkets that want to combine their businesses, have asked for a delay in the competition inquiry into their proposed £7.3bn deal. A deal between second-ranked Sainsbury's and the British arm of Walmart, the number three player, could see the combined group leapfrog Tesco as market leader and is being assessed by the Competition and Markets Authority (CMA). Sainsbury's and Asda said the current timetable did not give them, or the CMA, sufficient time given the unprecedented scale and complexity of the case. The CMA expects to issue provisional findings of its investigation early in 2019 ahead of a final report in March. Sainsbury's and Asda said they had engaged constructively with the CMA and had made repeated requests for additional time, specifically an extra 11 working days over Christmas to respond to a large amount of material recently provided. "This is a case of unprecedented size and complexity and we have a responsibility ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.