Good morning: The mooted £12 billion merger of Sainsbury and Asda could “lead to . . . higher prices, a poorer shopping experience and reductions in the range and quality of products offered”, the UK’s competition regulator has warned this morning.
The Competition & Markets Authority also raised concerns that the merger could drive up the price of petrol at a “large number” of Sainsbury’s and Asda petrol stations and reduce the quality of service for online customers.
The regulator says that it has identified 600 local areas of concern and warned that its current view “is that it is likely to be difficult for the companies to address the concerns it has identified”.
The ruling appears to be a fatal blow to the deal