Tesco has called on the Competition and Markets Authority (CMA) to speed up its analysis of the its proposed deal with Booker.
The £3.7 billion deal would see the UK‘s largest supermarket and supplier merge, adding a vast convenience store estate to Tesco‘s empire and streamlining its supply network. Many fear that this will grant the retailer an unfair advantage over the industry.
In May the CMA launched its probe into the deal stating it could last up to six months, however this morning Tesco issued stock exchange announcement asking the CMA to use its “fast-track process” to speed up the decision process.
It is expected to respond to the request in the next two weeks as it continues with the first phase of the investigation, establishing the views of interested parties. Phase two is currently expected to begin after July 25.
Nick Read of rival convenience store chain Nisa, which recently entered into talks with Sainsbury‘s in a similar deal, stated that the Tesco Booker merger would cause an “enormous amount of pain” for the industry.