UK: OFT may reopen grocery market inquiry - report
The UK's Office of Fair Trading has reportedly indicated that it could reopen its inquiry into the UK grocery market.
In August, the OFT said it would not conduct a full review of the grocery market, despite calls from independent retailers for the Competition Commission to investigate the dominance of the major supermarkets.
Last week, however, the OFT wrote to the Association of Convenience Stores (ACS), which represents 32,000 shopkeepers, indicating that it would reconsider its decision because it had displayed "insufficient reasoning", reported The Times.
Calls for another competition review of the grocery market have been growing, especially since market leader Tesco extended its share to more than 30%.
"We are delighted that the OFT has decided to reconsider its previous decision. There are real problems in the UK grocery market that are undermining fairness and working against consumers' interests. It is vital that the OFT gives full and detailed consideration to the concerns raised," David Rae, chief executive of ACS, was quoted by The Times as saying.
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