French competition regulators have approved Auchan and Intermarché’s plan to create Newco, a joint venture operating 167 Auchan supermarkets under the Intermarché or Netto banners. Auchan will hold 99.99% of the entity but ITM Entreprises will have joint control, making Newco Intermarché’s largest franchisee. The outlets are expected to convert from late 2026. (LSA)