Poundland will now face a full investigation over its proposed acquisition of its smaller rival 99p Stores for £55 million. The Competition and Markets Authority had initially determined, from its initial review, that the takeover could work against the best interests of consumers in 80 areas because it would reduce competition and impact upon the number of promotions available to consumers in these locations. However Poundland disputes this. The CMA will now delve further and present its ruling by October 23rd.
Share