January 9, 2019 / 8:54 AM / a month ago

Sainsbury's says confidence in securing Asda has not changed

FILE PHOTO: A discarded till receipt lies on a table at a Sainsbury's store in London, Britain October 11, 2016. REUTERS/Neil Hall/File Photo

LONDON (Reuters) - Sainsbury’s (SBRY.L), Britain’s No. 2 supermarket chain, said its belief that the competition regulator would clear its 7.3 billion pound ($9.3 billion) takeover of rival Asda had not diminished since the deal was announced in April.

“It (confidence) remains exactly the same...We remain confident in the case we are making to the CMA (Competition and Markets Authority),” Chief Executive Mike Coupe told reporters.

“In that respect nothing has changed,” he said.

($1 = 0.7836 pounds)

Reporting by James Davey; editing by Kate Holton

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