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Carrefour, Tesco alliance to become operational in October

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Carrefour, Tesco alliance to become operational in October
The head office of Tesco is seen in Cheshunt, Britain, January 8, 2015. REUTERS/Toby Melville/File Photo   -   Copyright  Toby Melville(Reuters)
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PARIS (Reuters) – Supermarket retailers Carrefour <CARR.PA> and Tesco <TSCO.L> 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 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 combined annual sales of $170 billion (£130.8 billion), the partnership is designed to secure a better deal from the likes of Nestle <NESN.S>, Procter & Gamble <PG.N>, Unilever <ULVR.L>, Danone <DANO.PA> and others to help the French and British groups to compete hard on price.

(Reporting by Sudip Kar-Gupta; editing by Emelia Sithole-Matarise)

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