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Retailers Carrefour, Tesco join forces in strategic alliance

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Retailers Carrefour, Tesco join forces in strategic alliance

Retailers Carrefour, Tesco join forces in strategic alliance
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PARIS (Reuters) - French supermarket retailer Carrefour <CARR.PA> and British peer Tesco <TSCO.L> announced on Monday plans to form a global long-term purchasing alliance, as they seek to cut costs.

The deal is the latest partnership within the European retail industry, which has seen U.S. internet giant Amazon <AMZN.O> make in-roads into the sector in recent months.

The alliance will cover the strategic relations with global suppliers, the joint purchasing of own-brand products and goods not for re-sale, said Carrefour in a statement.

Carrefour, Europe's largest retailer, in January announced plans to cut costs and jobs, boost E-commerce investment and seek a partnership in China, in an effort to lift profit and revenue and beat domestic rivals in the race to develop digital shopping products.

(Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta)

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