JD Sports Fashion PLC (LON:JD), the leading retailer of sports, fashion and outdoor brands, today provided an update following the Competition and Markets Authority’s announcement regarding the Group’s acquisition of Footasylum.
The CMA has confirmed that it intends to refer its review to Phase 2.
Peter Cowgill, Executive Chairman of JD Sports Fashion, commented:
“We continue to believe that Footasylum would be a positive addition to the Group, bringing a differentiated customer demographic and fashion-led product range that is complementary to our existing business. We also believe that there will be significant operational and strategic benefits from a combination of the two businesses.
“Our discussions with the CMA are ongoing as we consider whether to proceed to Phase 2 or if acceptable remedies can be agreed at this stage. We look forward to working constructively with the CMA in this regard and will provide further updates in due course.”