Asda takeover faces investigation over price hike fears
direct to your inboxEarlier this year, the news was announced that Manchester billionaire duo Mohsin and Zuber Issa had bought Asda from Walmart in a landmark £6.8bn deal.The deal, which put the supermarket back in majority British ownership for the first time in over 20 years, was confirmed after an offer from a consortium of Zuber and Mohsin Issa and private equity firm TDR Capital.But today The Competition and Markets Authority (CMA) said it has launched a Phase 1 investigation into Bellis Acquisition Company 3 Limited's proposed purchase of Asda Group Limited.This is the company owned by Mohsin and Zuber Issa, who also own the Euro Garages chain.It said the probe will look into what impact the merger could have on competition and prices