Sep 2, 2021
JD Sports perplexed by Footasylum deal knockback
JD Sports has said it is "Perplexed and disappointed" by concerns over its proposed takeover of rival Footasylum. JD Sports' boss hit back, saying the deal would boost a "High Street decimated by a number of high-profile closures". The competition watchdog has now said that, having gathered extra evidence on the impact of the pandemic and the sports fashion sector, it still has concerns over the proposed takeover. The CMA said that forcing JD Sports to sell Footasylum to new owners may be "The only way of addressing" its competition concerns as a result. In its response to the provisional findings, JD Sports accused the CMA of failing to take into account the "Structural shift in favour of online shopping" seen during the pandemic, which it says has benefitted big brands such as Nike and Adidas.
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