16th Dec 2020 09:17
(Alliance News) - Competition & Markets Authority on Wednesday said it has launched an investigation into suspected breaches of competition law by JD Sports Fashion PLC among others.
The investigation concerns suspected infringements in relation to the price at which Rangers-branded replica football kit was sold in the UK.
The CMA said that that it believes that it has reasonable grounds to suspect one or more breaches of competition law.
The other entities include Rangers Football Club Ltd, Hummel AS, LBJ Sports Apparel Ltd, and Greaves Sports Ltd.
The suspected infringements relate to EU treaty rules that prohibit any agreements or cartels between parties that could disrupt free competition within the common market, with financial penalties that come with infringements.
JD Sports shares were up 2.9% at 838.07 pence each in London on Wednesday morning.
By Greg Roxburgh; [email protected]
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