The Co-op is likely to pay around £1.6bn for Somerfield’s 955 stores, says the Daily Mail.
The mutual retailer is hoping to make an announcement next week, says the newspaper.
The amount is considerably less than the £2bn price tag previously mooted.
Larger Co-op stores are likely to be sold on to rivals, with Morrisons, Asda and even Iceland said to be circling.
