Asda to buy Netto

The OFT has approved Asda's purchase of budget supermarket chain Netto.
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The Office of Fair Trading has said that the supermarket giant can acquire Netto from owner Dansk - however, it must sell 47 of the existing 195 outlets.

The conversion of Netto stores is expected to be complete by summer 2011, with Asda having already begun discussions with potential buyers for the sites it needs to offload.

The remaining stores will be rebranded as Asda Supermarket.

The number of items on sale in the outlets will apparently rise from an average of 1,800 to around 10,000, with larger stores stocking up to 12,000, according to Asda.

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