SWEDEN: Axfood in the spotlight as retail competition probe gets underway
As European retailers continue to expand northwards and eastwards in their quest for growth, the spotlight has fallen on Sweden, where the retail sector is currently the subject of a competition investigation. Some 90% of the Swedish food retail sector is currently controlled by just three players - Axfood, Coop and market leader ICA, a federation of retailers now owned 50% by Dutch giant Ahold, reports Reuters. Axfood is a key player in this virtual triarchy, and has seen its share price rocket nearly 150% in the last year, making it one of the strongest climbers on the Stockholm Stock Exchange.
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