Merger of UK’s number two and three supermarkets ‘would hit consumers’

PUBLISHED: 08:12 25 April 2019 | UPDATED: 08:12 25 April 2019 Sarah Chambers The CMA has blocked a proposed merger between Sainsbury’s and Asda outright Picture: ANTHONY DEVLIN/PA WIRE The government’s competition watchdog has blocked a proposed merger of supermarket giants Sainsbury’s and Asda – which both have stores across the UK including in Suffolk, Norfolk and Essex – after finding it would hit consumers. An ASDA store in Lowestoft Picture: GRETA LEVYThe Competition and Markets Authority (CMA) said the £12bn deal between the UK’s second and third biggest supermarket chains would damage competition and lead to higher prices in stores, online and at petrol stations.It would also lead to a “substantial lessening of competition” at both a national and local level for shoppers and motorists, who would be “worse off”, it said.The CMA said the tie-up would lead to price rises, a poorer overall retail experience, or reductions in the quality and range of products.CMA inquiry chair Stuart McIntosh 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… Read full this story

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