Feb 11, 2020
JD Sports slams Footasylum deal ruling
The takeover of Footasylum by JD Sports could mean shoppers "Lose out", the UK's competition watchdog has warned, with younger consumers and students hit the hardest. "The competitive landscape described by the CMA is one which neither I, nor any experienced sector analyst, would recognise," said JD Sports executive chairman Peter Cowgill. Footasylum is a smaller chain and has about 70 stores in the UK. Kip Meek, chair of the independent inquiry group looking at the investigation, said the merger could "Particularly affect younger customers and students, who shop in JD Sports and Footasylum". The CMA said it looked at surveys of more than 10,000 JD Sports and Footasylum customers, as well as documents from the companies and their competitors, during the investigation. It added that blocking the deal by forcing JD Sports to sell the Footasylum business might be the only way to do so.
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