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.
Source: Reuters.com