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20 March, 2019 00:00 00 AM
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UK supermarkets pledge price cuts amid merger doubts

AFP, London

British supermarket giant Sainsbury's and Walmart-owned Asda yesterday vowed to slash prices to overcome regulatory concerns and secure a blockbuster merger.

The Competition and Markets Authority watchdog last month warned that the planned merger raised "extensive competition concerns" and could spark higher prices and less choice.

The warning, contained in early findings of the CMA's in-depth probe, has sparked heavy criticism from the two supermarket firms, particularly over the level of competition in the sector.

"Sainsbury's and Asda strongly disagree with the CMA's provisional findings," the pair said in a statement on Tuesday, adding that the regulator's initial verdict contained "significant" economic and legal errors.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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