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City analysts are also speculating that Mike Coupe’s position at Sainsbury’s looks precarious, now his big deal with Asda is in ruins. Tom Stevenson, investment director at Fidelity, says the CMA’s ruling is a personal blow: “Confirmation that the competition watchdog has blocked Sainsbury’s planned merger with Walmart-owned Asda will surprise no-one after its forthright interim report in March made clear its deep reservations about the deal.
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