JD Sports has insisted its £90m takeover of rival Footasylum “will benefit consumers” as it wrestles to convince competition watchdogs of the merits of the deal.
The retailer is fighting to push the deal through after the Competition and Markets Authority (CMA) revealed it plans to conduct a more in-depth probe into the acquisition.
The CMA fears the deal could lead to “higher prices, less choice and a worse shopping experience for customers” if it were to be given the green light.
But in a submission to the CMA published today, JD has hit back at such claims, insisting that the enlarged business would still face “a range of competition” from the likes of Sports Direct, Foot Locker, Schuh and Office, as well as online platforms such as Asos, Zalando and, increasingly, Next.
JD also emphasised the role and power of sportswear giants Nike and Adidas, on which it claimed both the JD and Footasylum businesses were “dependent”.
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