UK deepens probe into Tesco plans to buy Booker

The UK’s competition regulator has referred Tesco’s proposed £3.7bn (€4.17bn) takeover of wholesaler Booker for a detailed investigation, granting a request from the companies to “fast track” the process.

Booker announced the cash and shares deal in January and the UK’s Competition and Markets authority formally started a phase 1 review in May. Last month, Tesco and Booker asked the authority to move swiftly to a more in-depth phase 2 examination.

The authority said it believed in over 350 local areas where there was an overlap between Tesco shops and Booker-supplied independent grocery retailers, shoppers could face worse terms when buying products.