Morrisons has said that it could cost the company £65m in fees to buy rival supermarket chain Safeway.

The Daily Telegraph said the figure is thought to include stamp duty of about £15m and Safeway's defence costs. Costs of £27.7m were contained in Morrisons lapsed all-share offer at the beginning of February.

The Competition Commission has ruled that should Morrisons takeover Safeway it must sell 53 of Safeway’s stores. The CC’s report indicated that Tesco would be allowed to buy 21 stores, Sainsbury 20 and Asda 12.

Topics