Sports Direct has stated that a competition regulator’s investigation into JD Sports’ £90 million (US$112.2 million) takeover of Footasylum could have implications for the sector’s major brands.
The Mike Ashley-owned firm—whose sportswear chain is JD Sports’ biggest rival—particularly highlighted the impacts the probe could have on its relationships with these brands, such as Nike, Adidas, Puma, and Under Armour.
The news comes after the Competition and Markets Authority (CMA) expressed concern about JD Sports’ takeover deal of smaller rival Footasylum, warning it could lead to “higher prices” and “worse choice” for customers.
The CMA stated it would escalate its probe into the takeover, which it launched in July, to an in-depth, Phase II investigation unless JD Sports provided a solution to address the concerns.
Full Content: Euro News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
