The Competition and Markets Authority (CMA) is investigating Sainsbury's £1.4bn planned takeover of Argos.
In a statement released last week, the CMA said it was launching an inquiry into whether the transaction "has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2001 and, if so, whether the creation of that situation has resulted, or may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services."

It is a phase one investigation, and there is currently an invitation for comment open until June 13. The CMA will make a decision by July 25 as to whether the case warrants a full investigation.

In response to the CMA's decision, Sainsbury's said: "The combination of both businesses will create a multi-product, multi-channel proposition with fast delivery networks, benefiting customers by accelerating our strategy to give them what they want, where and when they want it. We look forward to the successful completion of the deal."