JD Sports faces takeover probe

JD Sports Fashion has insisted its £90million takeover of high street rival Footasylum will not be bad for shoppers as it faces a full-scale probe by the competition watchdog.

The Competition and Markets Authority (CMA) said it was set to refer the planned acquisition for an in-depth phase two investigation after JD Sports failed to offer any solutions to ease its concerns by the September 26 deadline.

It comes after the CMA warned that the deal could lead to “higher prices and less choice” for customers.