Scottish & Newcastle told to dispose of 700 pubs
Kim Howells, the Competition and Consumer Affairs minister, said bringing together S&N's 2,650 pub estate with Greenalls' 821 pubs would give S&N more than a quarter of the outlets in seven local districts.
To comply with the "beer orders", S&N must dispose of 600-700 outlets and officials at the Department of Trade and Industry said the brewer should ensure sales in the seven, unnamed areas were included. S&N said it was happy to meet the directive.
Mr Howells said he wanted S&N to agree to reduce its pub holdings below 25 per cent in the areas within six months of the completion of the Greenalls deal.
A spokesman for S&N said: "We are delighted to give an undertaking, which allows us to refine our deal slightly."
Shares in S&N ended 2p lower at 556p, while Greenalls slipped 3p to 296p.
Under the long-expected deal, announced in September, S&N bought the Greenalls outlets to expand the geographical reach of its business across the country.
Children's bookseller wins The Independent's new author search
Board creates magnetic field to achieve lift
- 1 Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
- 2 Banksy arrest hoax: Internet duped by fake online report claiming artist's identity has been revealed
- 3 Former East 17 frontman Brian Harvey turns up at Downing Street and 'demands to speak to Prime Minister'
- 4 Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
- 5 Paralysed man Darek Fidyka walks again after treatment by British doctors on brink of 'cure'
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Jose Manuel Barroso warns David Cameron against making 'historic mistake' over immigration reforms
Worst Airports of 2014: Poll names Islamabad airport in Pakistan worst in the world
iJobs Money & Business
£23000 per annum + pension and 22 days holiday: Ashdown Group: An established ...
£27000 per annum + pension, 22 days holiday: Ashdown Group: An established ind...
£23000 - £26000 Per Annum: Clearwater People Solutions Ltd: Our client is curr...
£25 - 30k: Guru Careers: A Corporate Actions Administrator / Operations Admini...