CMA leaning towards My Local takeover after investigation

THE Competition and Markets Authority has said it is leaning towards accepting the takeover of eight My Local stores by the Co-operative Group.

The CMA opened an investigation into the deal, which would see the small number of stores bought by the convenience giant following the administration of the My Local group companies, ML Convenience Limited and MLCG Limited, in June 2016.

One store proved to be the sticking point for the CMA, namely the Widnes store in Cheshire, the taker of which it said would result in a “substantial lessening” of competition within the local market.
However it has said it will look at the Co-op’s undertakings in detail and that the takeover “might be accepted”.

The CMA now has until 30 December 2016 to decide whether to accept the undertakings. It has the option to extend this timeframe to 27 February 2017 if it considers there are special reasons for doing so.