The UK Competition and Market Authority (CMA) last week said it may appeal a tribunal's judgement that found the regulator did not gather enough information about the impact of the COVID-19 pandemic when assessing JD Sports' takeover of smaller rival Footasylum. CMA had ordered JD to sell Footasylum earlier this year, saying the retailer’s £86-million deal left shoppers worse off.
"We will now take stock of today's judgment and carefully consider our next steps, including whether to appeal," CMA chief executive Andrea Coscelli said in a statement, adding it was disappointed the Competition Appeal Tribunal disagreed with its approach.The UK Competition and Market Authority (CMA) may appeal a tribunal's judgement that found the regulator did not gather enough information about the impact of the pandemic when assessing JD Sports' takeover of smaller rival Footasylum. CMA had ordered JD to sell Footasylum earlier this year, saying the retailer's £86-million deal left shoppers worse off.#
JD had appealed CMA’s decision and said that in the context of coronavirus-related pressures on retailers, the move put the future of Footasylum and its 2,500 employees at risk.
“The entire case will now go back to the CMA for re-consideration and we look forward to presenting further evidence which demonstrates the true extent to which the competitive landscape has evolved,” JD chairman Peter Cowgill was quoted as saying.
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