Booker has approached the Competition & Markets Authority (CMA) to accelerate the process of its proposed £3.7 billion merger with Tesco, which was announced towards the end of January.
A statement from the wholesaler says: ”Following the continued constructive dialogue and further to the commencement of the CMA’s phase 1 review on 30 May, 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.”
It is expected that the CMA will shortly release details of a speeded-up phase 2 procedure.
In the 12 weeks to 16 June, Booker’s like-for-like group sales rose by 4.2%, with non-tobacco income growing by 9.6% and tobacco down by 7.9%, reflecting the range of government impositions on the trade.
Chief executive Charles Wilson referred to the benefits of favourable weather and the late Easter.
Tel: Booker Group (01933) 371000
Published Date: July 11, 2017