Asda is to buy Netto, the discount food chain, in a move that will add 193 stores to its estate.

The group, which is owned by the US retailer Wal-Mart and is Britain’s second-biggest supermarket chain, has agreed to buy the stores for £778 million from their Danish owner, Dansk Supermarked.

It expects to complete the sale this summer, unless the Office of Fair Trading objects, and to finish refurbishments under the Asda brand by the middle of next year. Read more »

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