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BUZZ-Tesco/Booker: fall on reports of competition scrutiny

Mon, 30th Jan 2017 08:47

** Tesco and Booker both fall c. 2pct aftermultiple reports the two companies will face a lengthycompetition probe

** The UK's largest supermarket chain and one of thecountry's leading wholesalers announced a surprise merger onFriday

** Over the weekend Times reports UK's Competition andMarkets Authority "will be all over" the proposed tie-up

** Telegraph says Tesco's One Stop chain to face particularscrutiny; CMA likely to require a phase two investigationmeaning the deal may not close until 2018

** Booker fifth most traded on Stoxx 600 by average30-day volumes

** Both stocks still well up on Thursday's close (Booker+13.5 pct, Tesco 6.6 pct)

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