The UK’s competition watchdog is being urged to investigate the possible merger of Sainsbury’s and Asda amid concerns over consumer choice.
The creation of a supermarket giant as part of a £10 billion deal (US$13.8 billion), which could be announced as soon as Monday, April 30, has also raised fears over the impact it may have on jobs.
If Sainsbury’s and Asda are to merge, together they would have a bigger share in the grocery market than market leader Tesco.
Liberal Democrat leader Sir Vince Cable, the former business secretary, said the Competition and Markets Authority (CMA) “must investigate” any deal after it emerged the companies were in advanced talks.
Shadow business secretary Rebecca Long-Bailey echoed Sir Vince’s calls, warning the merger risks “squeezing what little competition there is in the groceries market even further.”
Ms Bailey warned that, in the absence of proper vetting, it would be “British shoppers that suffer from rising prices and British workers that may be fearing for their jobs.”
Full Content: Huffington Post
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