UK supermarket chain Waitrose is expected to take the biggest package of Safeway stores on offer from Wm Morrison.
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Yorkshire-based Morrisons has to sell off 52 Safeway supermarkets to satisfy Competition Commission conditions related to its recent takeover of Safeway. Waitrose is expected to buy up to 25 of those stores for between £250m and £300m (US$461.2m-$553.5m), reported the Observer.
Morrisons is believed to prefer to sell a substantial package of stores to Waitrose in order to limit the expansion of Morrisons’ larger rivals, Tesco and Asda, in the North of England, Morrisons’ main market.
