UK's JD Sports in talks to sell Footasylum to Aurelius Group - Sky News

·1-min read

(Reuters) - JD Sports Fashion Plc, Britain's largest sportswear retailer, was in exclusive talks to sell Footasylum to German asset management firm Aurelius Group, a Sky News reporter said in a tweet on Wednesday.

Britain's competition regulator last year ordered JD Sports to sell Footasylum after its probe found that the combination could lead to a "worse deal" for consumers.

JD Sports, which sells brands such as Nike, Adidas and Puma in its physical and online stores, bought Footasylum in 2019 for 86 million pounds ($102.9 million) in its quest for dominance in the sportswear market.

Bury, UK-based JD Sports did not immediately respond to a Reuters request for comment.

($1 = 0.8360 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Devika Syamnath)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting