Sainsbury's and Asda in shock talks over £10bn merger deal

New supermarket group would have 31.4% market share, compared with Tesco’s 27.6%Sainsbury’s and Asda are in talks over a £10bn merger that would send shockwaves through the high street by creating a retailer more powerful than the current market leader, Tesco.
A tie-up between the UK’s second- and third-largest supermarket chains would create a new group with huge share of the market in food, clothing, household goods and toy retailing.Continue reading...