The Co-op becomes 5th biggest supermarket after OFT approves takeover of Somerfield.
The Co-op will have a market share of 8% and become the 5th largest supermarket behind Tesco, Asda, Sainsbury and Morrisons.
There were no concerns about competition at a national level but the OFT has ordered the disposal of 126 outlets in local grocery markets. The Co-op and Somerfield have agreed to find buyers for units for the OFT to approve, prior to agreeing a finalised remedies package.
Source: Asian Trader