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Tesco wins UK regulator's provisional approval for Booker takeover

Reuters  |  LONDON 

By James DaveyLONDON (Reuters) - Tesco won provisional approval for its 3.7 billion pound ($4.9 billion) takeover of wholesaler Booker from the UK competition regulator on Tuesday, moving Britain's biggest retailer closer to securing a new avenue of growth.The Competition and Markets Authority (CMA) said it had conducted an in-depth review and provisionally concluded that Tesco's purchase of Booker does not raise competition concerns.Tesco's move on Booker in January sparked further consolidation in Britain's 185 billion pound grocery market as supermarkets seek additional sources of ...

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First Published: Tue, November 14 2017. 20:11 IST