UK: Tesco bid for T&S cleared by Trade Secretary
Trade Secretary Patricia Hewitt has given the go ahead for UK retail giant Tesco's purchase of UK convenience store chain T&S. Following the advice of the UK Office of Fair Trading, Hewitt decided not to refer the matter to the Competition Commission, reported BBC Online. Rival supermarket chains had criticised the bid due to fears that the deal would give Tesco too much power in the market. Tesco, however, countered that the deal would only give it 5% of the total convenience store market.
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