The Co-operative Group’s acquisition of supermarket chain Somerfield is under review by the Office of Fair Trading (OFT).

The industry has been invited to lodge its comments about the tie-up by August 11, according to CNN.

The OFT will consider if the acquisition could result “in a substantial lessening of competition within any market or markets in the UK for goods or services that warrants reference to the Competition Commission for investigation and report”.

Co-op chief executive Peter Marks has expressed his confidence at working through any issues with the OFT. He expects all the major UK retail chains to be interested in buying whatever stores The Co-op will have to sell to meet OFT approval.

The combined food business will operate more than 3,000 grocery stores and generate annual net sales of about £8 billion, making it the fifth-largest food retailer in the UK with an eight per cent market share.

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