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Retail

Sainsbury's, Asda CMA Request 'Like An Overworked Child Asking For A Homework Extension': Analyst

Sainsbury's and Asda's request to the Competition and Markets Authority for a 'review of the timetable' relating to their proposed merger has been described as being "like an overworked school child asking for an extension on their homework" by a leading retail analyst.

Russ Mould, investment director at AJ Bell said that this morning's announcement from Sainsbury's indicates just how challenging it was going to be to get "such a big and complex transaction over the line".

Both this update, and "the CMA’s previous indication that the deal could result in higher prices and a lower quality of service for consumers do not offer the most encouraging signs on how things might progress from here,"Mould wrote.

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