Supermarket sale

THE SONAE Distribution Company is being forced to sell one of its supermarkets in the Algarve before it can complete its purchase of the Carrefour chain.

Sonae has been told by the Autoridade da Concorrência, the authority that regulates competition between companies, that it must sell one of its three supermarkets within the Portimão area in order to avoid a complete monopoly in the region.

Autoridade de Concorrência has not opposed the takeover bid by Sonae, but said it must sell either the newly acquired Carrefour at the Portimão retail park, the Continente supermarket in Portimão or the new Modelo in Lagoa in order not to have a local monopoly.

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