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Frasers Group reportedly offers to buy Footasylum
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theguardian.comSports Direct founder Mike Ashley’s retail group is reported to have tabled an offer to buy Footasylum, the trainer retailer that rival JD Sports has been instructed to sell by the competition regulator.
The offer is the latest development in a running battle between Ashley’s Frasers Group and JD Sports over access to the best goods from key suppliers, such as Nike and Adidas, as well as the attention of shoppers.
JD Sports was ordered to sell Footasylum’s 65 stores by the Competition and Markets Authority (CMA) in November, after the watchdog ruled that JD’s purchase of the smaller chain of trainer shops would result in a worse deal for shoppers.
The regulator must approve the new purchaser to ensure it is a truly independent competitor –
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