Jun 29, 2017

Tesco and Booker call for fast-track competition probe

Supermarket giant Tesco and wholesaler Booker have asked the UK competition regulator to fast-track its probe into their proposed £3.7bn tie-up. Tesco announced it had agreed to buy Booker in January and the Competition and Markets Authority started an initial review in late May. The firms now want the CMA to move "More quickly" to probing the merger through an in-depth "Phase 2" process. The CMA is assessing whether the proposed grocery tie-up could reduce choice for shoppers and for small stores supplied by Booker. Despite rising competition from the likes of Aldi and Lidl, Tesco remains Britain's biggest supermarket. The CMA could force Tesco to sell stores if it believes the deal will harm competition within the industry.

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