// JD Sports set to concede defeat in Footasylum takeover battle
// The retailer’s £90m takeover of Footasylum has been investigated by the CMA
// The CMA recently ordered JD Sports to sell Footasylum
JD Sports is on the verge of losing ownership of Footasylum following an ongoing battle with the CMA regarding the acquisition.
The retailer’s £90 million takeover of Footasylum has been continually investigated by the CMA since the deal was first announced in March 2019.
The CMA recently ordered JD Sports to sell Footasylum on the grounds that its ownership could reduce competition.
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The CMA revealed its decision following a protracted investigation that saw JD Sports appeal an original finding that it must sell Footasylum after concerns that it could lead to a worse deal for consumers.
JD Sports said the ruling “defied logic” and it was considering its options.
The deadline for JD Sports to appeal the CMA’s verdict passed earlier this month.
The retailer is still considering whether to request an extension.
JD Sports has previously appealed the CMA’s stance on its acquisition of Footasylum, and the Competition Appeal Tribunal (CAT) overruled the CMA’s previous ruling last November.
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1 Comment. Leave new
Nothing in the press about the Footasylum founder battling cancer hence sell off and how he lost the battle last year – I believe one of the founders of JD sold it and then setup FootAsylum so a perfect fit on ownership (back in the family so to speak) – why do people meddle….