BREAKING NEWS

BREAKING NEWS

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

Britain's competition watchdog plans to examine JD Sports-Footasylum deal
FILE PHOTO: People pass a JD Sports store in London, Britain April 11, 2017. REUTERS/Neil Hall/File Photo -
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Neil Hall(Reuters)
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(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 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.

(Reporting by Sangameswaran S in Bengaluru; Editing by Shounak Dasgupta)

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