Sainsbury's and Asda merger blocked
The Competitions and Markets Authority has blocked a proposed merger between Sainsbury's and Asda because of concerns about how it would affect prices.
The merger could have been worth £15 billion.
But the market regulator put an end to any executive hopes- saying that prices could have been driven up by a lack of competition.
The CMA released its report following a two-part inquiry into the proposals.
Stuart McIntosh, chair of the inquiry group, said:
It’s our responsibility to protect the millions of people who shop at Sainsbury’s and Asda every week. Following our in-depth investigation, we have found this deal would lead to increased prices, reduced quality and choice of products, or a poorer shopping experience for all of their UK shoppers.
We have concluded that there is no effective way of addressing our concerns, other than to block the merger.Published: by Radio NewsHub