UK reg­u­la­tor OKs Tesco takeover of Booker

The Phnom Penh Post - - MARK­BEUTSSI­NESS -

BRI­TAIN’S com­pe­ti­tion reg­u­la­tor has given the green light to su­per­mar­ket gi­ant Tesco’s £3.7 bil­lion takeover of whole­saler Booker, it said yes­ter­day. The takeover, worth $4.8 bil­lion, or €4.2 bil­lion, has been pro­vi­sion­ally cleared by the Com­pe­ti­tion and Mar­kets Au­thor­ity (CMA), it an­nounced in a state­ment. Tesco un­veiled the block­buster deal in Jan­uary in a bid to be­come the na­tion’s top food busi­ness, slash costs and take on Ger­man-owned dis­count re­tail­ers. The reg­u­la­tor ruled yes­ter­day that the pair do not com­pete head-to-head in most of their ac­tiv­i­ties.

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