Tesco Opticians, Vision Express Merger Undertakings Accepted by UK's Competition Authority
15 November 2017 - 8:59AM
Dow Jones News
By Ian Walker
The U.K. Competition and Markets Authority said Wednesday that
it accepted undertakings in relation to the merger of Tesco
Opticians and Vision Express (UK) Ltd., and will therefore not
refer the deal for further investigation.
The regulator didn't give any further explanation, but said the
text of its decision will be on its website as soon as
practical.
The U.K. Competition and Markets Authority said last month that
remedies offered by Vision Express to satisfy its concerns over the
company's acquisition of Tesco Opticians may be sufficient to allow
the deal to go ahead.
Tesco PLC (TSCO.LN), the U.K.'s number one grocer by market
share, announced in April that it was selling its optical business
in the U.K. and Republic of Ireland to Vision Express for an
undisclosed sum, subject to CMA approval.
However in September, the CMA said it believed the deal could
lead to a substantial lessening of competition within a market or
markets in the U.K. and sought remedies to address this
situation.
On Oct. 5, Vision Express offered to sell a Vision Express store
in each of the three local areas in which competition concerns were
identified.
The CMA said on Oct. 11 it had considered the undertakings
offered and believed there to be reasonable grounds for these, or a
modified version, to be accepted to remedy the competition issues
identified.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
November 15, 2017 02:44 ET (07:44 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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