May 6, 2020 / 6:36 AM / a month ago

UK competition watchdog blocks JD Sports takeover of Footasylum

May 6 (Reuters) - Britain’s competition watchdog made good on Wednesday on its threat to block sportswear retailer JD Sports’ takeover of smaller rival Footasylum, saying it would leave shoppers worse off and requiring JD to sell the chain.

JD said it was considering an appeal and that, in the context of the coronavirus-driven pressures on retailers, the decision put at risk the future of Footasylum and its 2,500 employees.

Reporting by Tanishaa Nadkar in Bengaluru; editing by Patrick Graham

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