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Tesco says Sainsbury's-Asda deal needs 'extensive remedies'

Reuters  |  LONDON 

LONDON (Reuters) - British supermarket group Sainsbury's proposed takeover of rival Asda would not be cleared by the competition regulator without the need for "extensive remedies" if precedent is followed, according to market leader Tesco.The combination of No. 2 player Sainsbury's and No. 3 Asda, which is owned by Walmart, could overtake Tesco.In its submission to the Competition and Markets Authority (CMA), which is probing the deal, Tesco also questioned the economics of the 7.3 billion pounds ($9.4 billion) transaction, saying it provided few direct customer benefits.Last year the CMA ...

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First Published: Tue, December 04 2018. 16:36 IST