Tesco calls on competition watchdog to fast track Booker merger probe
TESCO has asked the competition watchdog to fast track its proposed £3.7billion takeover of cash-and-carry wholesaler Booker.
The Competition and Markets Authority is assessing whether the tie-up could reduce choice for shoppers and other customers such as stores supplied by Booker, who own the Budgens and Londis convenience brands.
That inquiry was due to be completed by July 25 but a decision could come within 10 working days.
The fast track process has been used in other merger inquiries, including BT’s takeover of EE.
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In a stock market announcement, Tesco said: “Following continued constructive dialogue and further to the commencement of the CMA's phase 1 review on 30 May 2017, we have now requested that the CMA uses the 'fast-track' process to allow it to move more quickly to examining the merger through a detailed phase 2 process.
“We expect the CMA to issue an early decision to refer to phase 2 within the next two weeks.”
If the CMA agrees to a fast-track procedure, a phase 1 decision could be issued in the next 10 working days.
The CMA said a statutory timetable for phase 2 would be 24 weeks.
