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UK competition watchdog investigates Sainsbury-Home Retail deal

Reuters
Shopping trolleys are lined up in front of a Sainsury's supermarket in London October 5, 2011. REUTERS/Luke MacGregor

(Reuters) - Britain's competition watchdog said it was launching an inquiry into supermarket chain J Sainsbury Plc's 1.4 billion pound takeover of Home Retail Plc.

The Competition and Markets Authority (CMA) said on Friday that it was investigating whether the deal could hurt competition in the UK. (http://bit.ly/1XWfZ0u)

The deal, which was backed by Home Retail's board last month, will help Sainsbury diversify its grocery-heavy portfolio, analysts say.

Home Retail sells electronics, homes appliances, jewellery and other goods under its Argos chain and home improvement products through its Homebase-branded stores.

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The CMA said it would decide on the matter by July 25.

The watchdog is also investigating German drugs distributor Celesio AG's 125 million pound acquisition of Sainsbury's pharmacy business. A decision is expected on Aug. 8. (http://bit.ly/1ON8JN2)

(Reporting by Mamidipudi Soumithri in Bengaluru; Editing by Kirti Pandey)