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MPs accuse Sainsbury’s/Asda merger of ‘financial fix’

The CEOs of Sainsbury’s and Asda have been accused of creating a “financial fix” and using “mickey mouse” numbers by MPs in a parliamentary hearing over the supermarkets’ merger.

mike coup

Mike Coupe

Asda chief executive Roger Burnley and Sainsbury’s CEO Mike Coupe appeared in front of MPs at the environment, food and rural affairs committee on 20 June.

The bosses of Asda and Sainsbury’s have been accused of using “mickey mouse numbers” by MPs, who also dismissed the two grocers’ promise to continue running both brands separately after a merger as “baloney”.

Burnley and Coupe said they would reduce prices on everyday essentials by 10%, but insisted suppliers would not be squeezed as they would benefit from dealing with one retailer rather than two.

They added that smaller suppliers would not be affected.

Readers' comments (2)

  • I`m sure both parties will come to an amicable agreement !!
    Pot calling the kettle springs to mind,

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  • Whilst the Competition and Markets Authority gives thought to the proposed merger of Salisbury's and Asda, today's news of Tesco and Carrefour planning to combine their respective buying powers can be expected in due course to further squeeze suppliers.
    Stephen Sidkin
    Fashion Law Group
    Fox Williams LLP

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