• Sainsbury's-Asda merger blocked by regulator
    3 replies, posted
https://www.bbc.co.uk/news/business-48048596 The proposed merger between Sainsbury's and Asda has been blocked by the UK's competition watchdog over fears it would raise prices for consumers. The Competition and Markets Authority (CMA) also said it would raise prices at the supermarkets' petrol stations and lead to longer checkout queues. Sainsbury's boss Mike Coupe said the regulator was "effectively taking £1bn out of customers' pockets". But he said the supermarkets had agreed to end the deal. Asda boss Roger Burnley said he was disappointed: "We were right to explore the potential merger with Sainsbury's, which would have delivered great benefits for customers and supported the long term, sustainable success of our business."
"We were right to explore the potential merger with Sainsbury's, which would have delivered great benefits for customers and supported the long term, sustainable success of our business." Suuure...
Yeah fuck off, ASDA is already huge enough, its part of the Walmart group for fucks sake. Merging Sainsbury's with them, while they have less stores, would just increase their market share massively, theres only two major supermarket brands which are Tesco and ASDA then the two smaller ones which are Morrisons and Sainsbury's. If this merge was approved it'd be a nail in the coffin for Morrisons as they wont have anyone at their level to compete with other than the smaller local brands, fucking Safeway died years ago and Lidl and Aldi are an entirely different league. Sainsbury's boss Mike Coupe said the regulator was "effectively taking £1bn out of customers' pockets". More like out of you and your execs pocket you fuck.
I wonder if the "we're in the money" slip up had an influence on their decision to block the merger...
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