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UK's competition watchdog to investigate JD Sports' acquisition of Footasylum

The U.K.'s top competition watchdog said it is investigating JD Sports Fashion PLC's previously announced acquisition of apparel retailer Footasylum PLC in a deal valued at £90.1 million.

The Competition and Markets Authority issued an initial enforcement order related to the deal which it says could reduce competition in the market.

At the time it announced the acquisition. JD Sports already owned a stake in the apparel business. It first acquired 8.3% of Footasylum, and as of Feb. 19, had upped its stake to 18.74%.