J Sainsbury, Asda Seek More Time to Respond to CMA Probe

   By Adria Calatayud 
 

J Sainsbury PLC (SBRY.LN) said Wednesday that it and Asda Group Ltd. will lodge an application with the Competition Appeal Tribunal for a review of an investigation into their merger by the U.K.'s Competition and Markets Authority.

The application requests a review of the timetable and process, Sainsburys said. Both U.K. supermarket chains have engaged with the CMA and have made repeated requests for additional time, specifically asking for an additional 11 working days over the Christmas period to respond to material recently provided by the country's competition watchdog, Sainsburys said.

On April 30, U.S. retailer Walmart Inc. (WMT) said it would sell its U.K. arm, Asda, to rival Sainsburys. If the merger is approved it will create the largest supermarket group in Britain.

The deal is currently under the scrutiny of British regulators as the CMA in September referred the case for an in-depth investigation.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

December 12, 2018 02:48 ET (07:48 GMT)

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