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Britain Fines JD Sports, Footasylum $6.4 Million for Breaching Order

JD Sports store. — JD said it was not expected to complete the deal before the second half of 2023. (Shutterstock)

Reuters

14 February 2022

Britain fined the country’s largest sportswear retailers JD Sports and Footasylum on Monday a combined 4.7 million pounds ($6.4 million) for breaching an order that prevented both the merged firms from integrating further.

The Competition and Markets Authority (CMA), which had last year ordered JD to unwind its purchase of Footasylum due to competition concerns, said the two companies had exchanged commercially sensitive information in breach of its order.

By Sachin Ravikumar; Editing by Sherry Jacob-Phillips

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