Asda’s £600m takeover of Co-op’s forecourts could raise prices or lead to less choice, the competition watchdog has warned.
The Competition and Markets Authority has said it will now launch an in-depth “phase two” investigation into the deal, which could result in it being reversed.
The supermarket chain, owned by the billionaire Issa brothers and private equity firm TDR Capital, agreed last August to buy 132 petrol stations and attached convenience stores from the Co-op. The deal was completed towards the end of last year.
Asda must now “offer acceptable undertakings to address these competition concerns”.
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