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Regulator defends veto of Tuskys buyout bid
A Tuskys supermarket, formerly Ukwala Supermarket, along Tom Mboya Street, Nairobi. PHOTO | FILE
The competition watchdog has defended its decision to reject Tuskys Supermarket’s bid to take over six stores managed by its rival Ukwala Supermarkets, arguing that its analysis had showed the buyout would have distorted competition in the retail market.
The Competition Authority of Kenya (CAK) in a ruling earlier this year denied Tuskys approval to finalise the acquisition, allowing it to take over just one out of six Ukwala stores it had intended to buy out.
