UK markets closed
  • NIKKEI 225

    26,107.65
    -315.82 (-1.20%)
     
  • HANG SENG

    21,586.66
    -266.41 (-1.22%)
     
  • CRUDE OIL

    98.36
    -1.14 (-1.15%)
     
  • GOLD FUTURES

    1,739.40
    -24.50 (-1.39%)
     
  • DOW

    31,037.22
    +69.40 (+0.22%)
     
  • BTC-GBP

    17,022.95
    -159.00 (-0.93%)
     
  • CMC Crypto 200

    440.06
    +4.54 (+1.04%)
     
  • ^IXIC

    11,361.85
    +39.61 (+0.35%)
     
  • ^FTAS

    3,910.80
    +46.89 (+1.21%)
     

UK competition watchdog to probe Morrisons' purchase of McColl's

·1-min read
FILE PHOTO: A view of a Morrisons supermarket in Birtley

LONDON (Reuters) - Britain's competition regulator will investigate supermarket group Morrisons' purchase of convenience store chain McColl's out of administration, it said on Monday.

The Competition and Markets Authority (CMA) will examine whether the deal results in a substantial lessening of competition.

Earlier this month, Morrisons, which has a wholesale supply deal with McColl's, took on all its 1,160 stores, including 270 Morrisons Daily branded stores, in a so-called pre-pack administration.

Morrisons, which trails market leader Tesco, Sainsbury's and Asda, has been owned since October by U.S. private equity group Clayton, Dubilier & Rice (CD&R).

(Reporting by James Davey; editing by Jason Neely)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting