Britain's competition watchdog plans to examine JD Sports – Footasylum deal


© Reuters. FILE PHOTO: People pass a JD Sports store in London

(Reuters) – Britain’s competition watchdog said on Friday it was planning to review if JD Sports Fashion Plc’s acquisition of smaller rival Footasylum “substantially” reduced competition in the sector.

The Competition and Markets Authority (CMA) served an initial enforcement order in relation to the deal, which was announced in March and valued Footasylum at up to 90 million pounds.

Initial enforcement orders are put in place to prevent businesses from integrating after a possible merger while the watchdog decides if it needs to launch an investigation.

A JD Sports spokesman said a review by the regulator was always a possibility, adding that both JD Sports and Footasylum would cooperate fully with the review.

“We have previous experience of working with the CMA and over recent weeks have had constructive engagement with them on this process,” the spokesman said.

JD has made a number of acquisitions over the past two decades to assemble its network of more than 2,400 stores.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  Tesla's Musk tells employees vehicle deliveries 'primary priority' near end of first quarter

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here