UPDATE 1-French anti-trust authority to probe supermarket purchasing alliances [Reuters]
TESCO PLC S/ADR (TSCDY)
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Source: Reuters
French anti-trust authority to probe supermarket purchasing alliances | Reuters 2 Min Read PARIS (Reuters) - France’s antitrust authority said on Monday it will investigate whether several purchasing alliances recently sealed by French and European supermarket retailers threatened competition rules. The probes cover purchasing alliances between France’s Auchan [AUCH.UL], Casino ( CASP.PA ), Germany’s Metro and France’s Schiever on the one hand, and one between Carrefour ( CARR.PA ) and Systeme U. The probe on that last alliance was also widened to include the tie-up between Carrefour and Tesco ( TSCO.L ). The probes will assess “the competitive impact of these purchasing alliances on the markets concerned for suppliers and for consumers,” said the anti-trust body in a statement. Retailers are facing intense price competition in their home markets as well as competition from online players such as Amazon ( AMZN.O ), and many French supermarket retailers have been forming allian
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