Asda announced today (12 January) that it has completed the latest regulatory hurdle in its plans to acquire Netto's UK stores.

The retailer said it had sold 39 Netto outlets to Haldanes, Iceland Foods and Morrisons, who will continue to operate them as grocery stores. Asda added that all staff in those stores have been briefed about the change.

Eight of the 47 stores that the OFT require to be disposed of remain unsold. However, Asda confirmed it will be selling these in the coming months.

Subject to final OFT approval, 147 Netto stores in the UK will be converted to the Asda banner by late autumn.

Asda said that customers will be able to complete a full weekly shop in each store and prices will be identical to its other outlets.

CFO Judith McKenna said: "Today is another key day in our plan to bring Asda to more customers in many more communities across the UK. We're delighted that we're one step closer to completing our acquisition of the Netto stores, which will allow us to provide even more space, choice and savings to our millions of customers in the UK."