Vision Express (UK) seem to have satisfied the CMA over its proposed acquisition of Tesco Opticians after offering to dispose of its stores in each of the three areas in which competition concerns were identified.
In a statement to the London Stock Exchange, the CMA says: “The CMA has considered the undertakings offered and today announced that it considers that there are reasonable grounds for believing that the undertakings offered, or a modified version of them, might be accepted by the CMA to remedy the substantial lessening of competition identified by the CMA.”
The CMA now has until 7th December 2017 to decide whether to accept the undertakings, with the possibility to extend this timeframe to 6th February 2018 if it considers there are special reasons for doing so.
Previously, the CMA announced it had reason to believe the merger between the two could “substantially” reduce competition within the UK market.
The undertakings, provided by Vision Express, were offered on October 5th. Vision Express in particular offered to divest the store in the three areas in which competition concerns were identified.
Tesco first announced the sale of its opticians business in April as part of a move to simplify its wider business.