Re: Somerfield
22 Agosto 2003 - 11:16AM
UK Regulatory
RNS Number:9917O
Sainsbury(J) PLC
22 August 2003
J Sainsbury plc announcement regarding its possible acquisition of 171
Somerfield stores from Springwater bidder
Further to the 30 July 2003 announcement that the Secretary of State had decided
to refer Sainsbury's possible acquisition of 171 Somerfield stores from
Springwater bidder ("the transaction") to the Competition Commission,
Sainsbury's today announces that it has decided that it will not be pursuing the
transaction referred to the Competition Commission and has requested that the
reference be set aside by the Secretary of State.
Sir Peter Davis, Sainsbury's group chief executive, said,
"I was disappointed with the outcome of the regulatory process. However, given
the current level of regulatory uncertainty in the food retail sector, we have
decided not to pursue the transaction any further."
For enquiries:
Investor Relations
Lynda Ashton +44 (0) 20 7695 7162
Media +44 (0) 20 7695 7295
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