Tesco urges watchdog to fast-track investigation into £3.7bn Booker merger

 
Helen Cahill
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The competition watchdog's investigations can be lengthy processes (Source: Getty)

Tesco has asked the competition watchdog to fast-track its investigation of the supermarket's merger with Booker Group.

The phase one investigation of the takeover by the Competition and Markets Authority (CMA) started on 30 May, and was due to be completed by 25 July.

If the CMA fast-tracks its investigation it will issue a phase one decision in the next 10 working days, and the more in-depth, phase two investigation will be carried out over the following 24 weeks.

Read more: Tesco is cutting another 1,200 jobs, this time at its head office

Tesco said in a statement: "We are grateful to the CMA team for the work they have done to date and appreciate the support of customers, suppliers and colleagues during this process."

The £3.7bn merger between Tesco and Booker Group, which is both a supplier and an owner of a handful of convenience store brands, was first announced in January.

Read more: Tesco unveils £3.7bn merger with Budgens and Londis owner Booker

However, it is thought that the CMA will require Tesco to close some of its convenience stores as part of its probe.

Other deals that have benefited from the CMA's fast track process include the BT-EE merger and the merger of Ladbrokes and Coral.

Read more: Competition watchdog opens investigation into Tesco-Booker Group deal

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