JD Sports has attacked the competition watchdog for its “fundamentally flawed” decision to block the retailer’s £90m takeover of Footasylum. The Competition and Markets Authority said the merger could result in customers being worse off and “substantially lessen competition nationally”. […] “This could particularly affect younger customers and students, who shop in JD Sports and Footasylum.” The CMA said its provisional ruling was to block the deal, which could see JD Sports forced to sell the business. Peter Cowgill, JD Sports’ executive chairman, said the ruling was “fundamentally flawed” and demonstrated a “complete misunderstanding of our market to an alarming extent”.
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