The Competition and Markets Authority (CMA) said Sainsbury’s has been barred from acquiring a stake in Asda or any of its subsidiaries for the next decade.

It is also prohibited from buying an interest in any business that has a holding interest in Asda.

The same rules will apply to Asda and its parent company Walmart, preventing them from acquiring a stake in Sainsbury’s or any company holding an interest in its big-four rival.

The stipulations will apply until July 9, 2029, unless the parties receive the “prior written consent of the CMA”.