Tesco-Booker merger gets provisional U.K. OK

“The U.K. regulatory body referred the merger for further investigation in July as it believed the deal could lead to worse terms for shoppers” writes Ian Walker for Tesco expects to complete the merger in early 2018.The U.K. Competition and Markets Authority provisionally cleared a merger between Great Britain’s number one grocer, Tesco PLC (TSCO.LN), and wholesaler Booker Group PLC (BOK.LN), saying that the level of competition in their respective markets is sufficient to counterbalance any rise in prices or reduction in service levels.

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