Asda to sell 47 of Netto UK shops to rivals

ASDA, owned by Wal-Mart, has agreed to sell 47 of the stores it plans to buy from Netto UK to rivals including Morrisons and Iceland in order to win regulatory clearance for the deal.

Asda has already lined up buyers for 25 of the stores, the Office of Fair Trading (OFT) said yesterday. The OFT said Asda had to do this before it would clear the Netto deal.

Danish conglomerate A.P. Moller-Maersk agreed last May to sell the British arm of its Netto discount food stores to Asda for £778m.

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