LONDON (dpa-AFX) - After reassessing the transaction between JD Sports (JD.L) and Footasylum, Competition and Markets Authority found the merger could lead to a worse deal for shoppers. After gathering a significant amount of additional evidence, the CMA decided that blocking the deal, by requiring JD Sports to sell Footasylum, may be the only way of addressing these competition concerns.
In May 2020, CMA decided to block the merger between JD Sports and Footasylum. JD Sports appealed to the Tribunal, which remitted the case back to the CMA.
'This deal would see Footasylum bought by its closest competitor and, as a result, shoppers could face higher prices, less choice and a worse shopping experience overall,' Kip Meek, chair of the group, said.
The CMA is now asking for views on its provisional report by 16 September and possible remedies by 9 September.
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