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UK competition regulator refers Tesco/Booker deal for in-depth probe

Reuters  |  LONDON 

LONDON (Reuters) - Britain's competition regulator has referred supermarket Tesco's proposed 3.7 billion pounds ($4.75 billion) takeover of wholesaler Booker to a detailed investigation, ceding to a request from the companies to "fast track" the process.The Competition and Markets Authority (CMA) said on Wednesday it believed that in over 350 local areas where there is currently an overlap between Tesco shops and Booker-supplied independent grocery retailers, or 'symbol' stores, shoppers could face worse terms when buying their groceries.It said there were concerns that if the deal was ...

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First Published: Wed, July 12 2017. 12:20 IST