JD Sports faces CMA probe over Footasylum acquisition
The Competitions and Markets Authority (CMA) has launched an investigation into JD Sports over its £90m acquisition of Footasylum.
The watchdog is has served initial enforcement orders to both JD Sports and Footasylum’s parent company Pentland, which is also the majority shareholder of JD Sports.
The CMA said it is investigating whether the deal could result in “a substantial lessening of competition in any market”.
JD Sports purchased fellow sport fashion retailer Footasylum in March off the back of two profit warnings from the firm, which made its stock market debut in November 2017.
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