The Bundeskartellamt has Germany’s largest food retailer Edeka’s acquisition of around 450 branches of competitors Kaiser’s Tengelmann prohibited. This was announced by the Competition Authority on Wednesday in Bonn.
Edeka gets the Bundeskartellamt no permission for the transfer of around 450 branches of competitors Kaiser’s Tengelmann. The acquisition would result in a “significant deterioration of competition on many already highly concentrated regional markets,” the agency said on Wednesday in Bonn. Kaiser’s Tengelmann announced the intended sale last October.
The Tengelmann Group wanted to sell its stores in Bavaria, Berlin and North Rhine-Westphalia 30 June 2015 at the Edeka network. Tengelmann looks claims to be “no more perspective” to make the deficit for years supermarket business profitable again. Agreed on the exact contents of the contract as well as the purchase price Tengelmann and Edeka then silence.
If consumers limited in choices
A takeover would have severely limited the selection and alternatives of local consumers and the remaining competitors opened “scope for price increases,” said the German Federal Cartel Office. In the area of procurement, the project would thus causing competition problems. The compromise proposed by the company were not suitable to the authority considers to refute their objections
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