January 9, 2019 / 8:53 AM / 2 months ago

Sainsbury's says confidence in securing Asda has not changed

FILE PHOTO: Shopping bags from Asda and Sainsbury's are seen in Manchester, Britain April 30, 2018. REUTERS/Phil Noble/illustration/File Photo

LONDON (Reuters) - Sainsbury’s (SBRY.L), Britain’s No. 2 supermarket chain, said its belief that the competition regulator would clear its 7.3 billion pound takeover of rival Asda had not diminished since the deal was announced in April.

“It (confidence) remains exactly the same...We remain confident in the case we are making to the CMA (Competition and Markets Authority),” Chief Executive Mike Coupe told reporters.

“In that respect nothing has changed,” he said.

Reporting by James Davey; editing by Kate Holton

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