JD Sports Hit by £4.3 Million Fine Over Banned Footasylum Deal
- CMA says there was ‘black hole’ about meetings between CEOs
- JD Sports was ordered to sell Footasylum after merger blocked
A display in the window of a JD Sports Fashion Plc store on Oxford Street in London, U.K.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
JD Sports Fashion Plc was fined 4.3 million pounds ($5.8 million) after Britain’s merger watchdog said the retailer broke confidentiality rules during its vetoed bid for rival Footasylum.
The Competition and Markets Authority said Monday that the two sports retailers failed to put sufficient safeguards in place to avoid sharing commercially sensitive information.