UK: Morrisons may have to sell 80 stores in Safeway bid - report
UK supermarket retailer Morrisons may have to sell up to 80 stores to satisfy competition authorities if it is to takeover rival Safeway.
A new study of the UK supermarket network suggests that Morrisons could need to make more store disposals than originally thought, according to a report in the Financial Times.
When the chain first launched a bid for Safeway in January, Morrisons thought it would only have to sell around ten stores to satisfy local competition concerns.
But a survey by CACI, a data and consultancy group, shows that Morrisons and Safeway stores overlap in 78 cases.
The CACI study is based on a drive time of around 15-20 minutes, which could be the measure used by the Competition Commission in its evaluation of the potential bidders for Safeway. On a 10-15 minute drive time, Morrisons would have 46 store overlaps.
Struggling UK supermarket group Wm Morrison has announced the appointment of Paul Manduca as a non-executive director of the company with effect from 6 September 2005....
The UK's top three retailers all gained market share in the latest period, but Wm Morrison continued to fall, partly due to store disposals, according to the latest data from TNS Superpanel....
UK grocery retailer Wm Morrison Supermarkets has announced that it has agreed to sell nine Safeway stores to rival Sainsbury's....
Supermarket chain Safeway has reported net income of $134.0m for the second quarter ended 18 June 2005 compared to $155.2m for the second quarter of the previous year....
Struggling UK supermarket group Wm Morrison has said it expects profit before tax, exceptionals and goodwill for the current year to fall within the £50m-£150m (US$91.9m-$275.7m) range....
Supermarket chain Wm Morrison has today (Monday) announced the sale by Safeway Stores (Ireland) Limited of twelve stores and the benefit of four development agreements in Northern Ireland to Wal-Mart'...
Supermarket chain Safeway has reported net income of $131.3mfor the first quarter ended 26 March 2005 compared to $43.1m for the first quarter of 2004....
Retail supply chain exchanges GlobalNetXchange and the WorldWide Retail Exchange today (Monday) announced that they have agreed to merge....
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