CMA blocks an investment of 13 billion pounds for 10 years

–The competition watchdog The Competition and Markets Authority (CMA) has blocked Sainsbury's and Asda from joining forces for 10 years.

CMA said Sainsbury's has been barred from acquiring a stake in Asda or any of its subsidiaries for the next decad and is also prohibited from buying an interest in any business that has a holding interest in Asda.

The same rules will apply to Asda and its parent company Walmart, preventing them from acquiring a stake in Sainsbury's or any company holding an interest in its big-four rival.