Tesco takeover of Booker gets go-ahead

Tesco's £3.7bn takeover of food wholesaler Booker has been provisionally cleared by the UK's competition regulator. Simon Polito, chair of the CMA's inquiry group, said: "Our investigation has found that existing competition is sufficiently strong in both the wholesale and retail grocery sectors to ensure that the merger between Tesco and Booker will not lead to higher prices or a reduced service for supermarket and convenience shoppers." Tesco said it welcomed the CMA's provisional decision and added that it would continue to work with the competition regulator, which is due to publish its final report by the end of the year. Booker is the UK's largest food wholesaler, and also owns the Premier, Budgens and Londis store brands. Despite rising competition from the likes of Aldi and Lidl, Tesco remains Britain's biggest supermarket.

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