JD Sports furious as regulator orders it to sell Footasylum
JD Sports has been ordered to sell Footasylum, the trainer retailing rival it bought in 2019, after the competition regulator once more found that the takeover had reduced competition for high street shoppers.
The retailer reacted with fury, saying that the Competition and Markets Authority (CMA) was in a “minority of one” and that the decision was “inexplicable” and “defies logic”.
The CMA will oversee the sale of Footasylum, which has been fully integrated into JD Sports, and must approve the new purchaser to ensure it will be run as a true competitor – unless JD Sports successfully appeals.
The decision comes after a long battle over the £90m takeover, which was first announced in March 2019. The regulator raised concerns in September 2019,
Read more on theguardian.com
