Sainsbury's share price plummets 14% as CMA threatens to block merger

Lloyds share rise on results

Sainsbury's share price collapsed in morning trading on Wednesday after the Competition and Markets Authority (CMA) warned the proposed merger with Asda would create "extensive" competition concerns.

In a release on Wednesday morning, the CMA said these competition concerns could be felt at both a national and local level throughout the whole of the UK. Furthermore, the proposed merger could result...