BusinessCompany NewsSafeway bids raise DTI competition concerns

Safeway bids raise DTI competition concerns

DTI minister Patricia Hewitt has referred four of the proposed acquisitions of supermarket chain Safeway to the Competition Commission, including the only solid bid so far by Morrisons.

Link: Morrisons says no to non-execs

and Morrisons’ non-executive plans in doubt

The news comes after the Office of Fair Trading concluded that any bids by Asda, Sainsbury, Tesco and ‘may be expected to result in a substantial lessening of competition’.

Hewitt also said that ‘there are reasonable grounds for believing that there will be the same outcome in the case of Morrison’.

One potential bid from Trackdean Investments, run by BHS owner Philip Green, has been spared the referral after it was decided that any bid would not harm competition.

The Competition Commission is expected to make its report on the ongoing saga by 12 August.

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