By Oliver Griffin

J Sainsbury PLC (SBRY.LN) and Asda Group Ltd. (AGP.YY) have proposed selling up to 150 stores and a number of gas stations to satisfy the U.K.'s monopoly watchdog.

A report published by the Competition and Markets Authority on Friday showed that the two grocers have proposed selling between 125-150 supermarkets, plus a number of convenience stores, to address concerns of a significant lessening of competition.

Asda--which is owned by Walmart Inc. (WMT)-- and Sainsbury are also proposing the sale of a sufficient number of gas stations in the U.K. to address the watchdog's concerns.

Both grocers hold the opinion that a divestiture remedy isn't necessary or proportional in relation to online delivered grocery shopping, but said they would be willing to discuss possible solutions with the CMA.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

(END) Dow Jones Newswires

March 22, 2019 09:44 ET (13:44 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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