Sainsbury's-Asda merger blocked by CMA business regulator

The supermarket result from the Competition Markets Authority saw Sainsbury's shares slide to the lowest in 16 years

The proposed merger between two of Britain’s largest supermarkets has been blocked by UK watchdog, the Competition and Markets Authority (CMA).

In November, Sainsbury’s and Walgreens-owned Asda announced a plan to create a mega-supermarket group with combined revenues of £51bn.

But the CMA cast . . .

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