Hermes Fund Managers has warned that Tesco’s offer for Booker could lead to corner shops being put out of business.
Its chief executive, Saker Nusseibeh, said his worry was that the deal would put too much pressure on corner shops, and that there could potentially be a backlash against Tesco.
The warning comes as Hermes is set to announce a 32% increase in underlying profit and a rise in net inflows to £3bn from £2.5bn.
