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Mexico: Cofece ok’s but conditions merger of Walmart’s #2 and #4 competitors

By  |  October 11, 2015

Mexico’s competition regulator, Cofece, said on Friday that supermarket chain Soriana cannot buy 27 of the stores it planned to take over from rival Comercial Mexicana’s operations.

Soriana, Mexico’s No. 2 supermarket, agreed in January to buy 160 stores from Comercial Mexicana for 39.19 billion pesos.

Cofece said in 27 of the planned purchases, Soriana’s acquisition would reduce competition and raise prices for consumers. To win approval of the deal, Soriana must either refrain from buying those 27 stores, or sell them within a set period of time to purchasers approved by the regulator, Cofece said.

Full content: The Wall Street Journal

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