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Carrefour, Tesco alliance to become operational in October

Reuters - UK Focus

PARIS, Aug 6 (Reuters) - Supermarket retailers Carrefour (Swiss: CA.SW - news) and Tesco (Frankfurt: 852647 - news) said on Monday that they expected their previously-announced purchasing alliance to become operational in October.

The companies first announced the tie-up in July, with French company Carrefour (LSE: 0NPH.L - news) joining up with UK peer Tesco to form a global purchasing alliance to demand better terms from major suppliers, in the latest attempt by the industry to drive down costs.

With (Other OTC: WWTH - news) combined annual sales of $170 billion, the partnership is designed to secure a better deal from the likes of Nestle (Swiss: NESN.VX - news) , Procter & Gamble (Swiss: PG-USD.SW - news) , Unilever (NYSE: UL - news) , Danone (LSE: 0KFX.L - news) and others to help the French and British groups to compete hard on price. (Reporting by Sudip Kar-Gupta; editing by Emelia Sithole-Matarise)