(MENAFN) Tesco's 3.7b pound occupation of food wholesaler Booker has been temporarily cleared by the UK's competition regulator.
According to the Competition and Markets Authority (CMA), the deal might raise competition in the wholesale market and lower shoppers' prices.
Booker is the biggest food seller of the UK, and over 30% of its sales are to the catering sector, which Tesco does not offer.
The CMA said that the wholesale market would "remain competitive in the longer term", because Booker's share of the UK grocery wholesaling market, at less than 20%, "was not sufficient to justify the longer-term concerns".
MENAFN1511201700450000ID1096090761
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.