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CMA starts probe into JD Sports acquisition of Footasylum

Christian Fernsby ▼ | May 18, 2019
The UK antimonopoly regulator on Friday temporarily blocked JD Sports Fashion PLC's planned integration of the recently acquired smaller rival Footasylum PLC on grounds that it might reduce competition.
Footasylum
Britain   The UK antimonopoly regulator on Friday temporarily blocked JD Sports
The Competition amd Markets Authority issued an initial enforcement order in relation to merger of the two shoe retailers, which became unconditional in mid April.

The deal concluded with an equity value of GBP90.1 million. Footasylum shares were delisted from the London Stock Exchange on Thursday.

Until a final decision is reached by the CMA, JD Sports and 45% shareholder Pentland are banned from taking any action which could lead to the integration of the Footasylum business, the transfer of the business or any subsidiary or any action that will prejudice competition between their own businesses and Footasylum.


 

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