J Sainsbury, Asda Propose Sale of Up to 150 Stores to Allay Competition Concerns
23 March 2019 - 12:59AM
Dow Jones News
By Oliver Griffin
J Sainsbury PLC (SBRY.LN) and Asda Group Ltd. (AGP.YY) have
proposed selling up to 150 stores and a number of gas stations to
satisfy the U.K.'s monopoly watchdog.
A report published by the Competition and Markets Authority on
Friday showed that the two grocers have proposed selling between
125-150 supermarkets, plus a number of convenience stores, to
address concerns of a significant lessening of competition.
Asda--which is owned by Walmart Inc. (WMT)-- and Sainsbury are
also proposing the sale of a sufficient number of gas stations in
the U.K. to address the watchdog's concerns.
Both grocers hold the opinion that a divestiture remedy isn't
necessary or proportional in relation to online delivered grocery
shopping, but said they would be willing to discuss possible
solutions with the CMA.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
March 22, 2019 09:44 ET (13:44 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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