Tesco, Carrefour To Create Long-term Strategic Alliance - Quick Facts

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(RTTNews.com) - Tesco plc (TSCO.L, TSCDY.PK) announced Monday its intention to enter into a long-term, strategic alliance with French grocery retailer Carrefour Group (CRERF, CRRFY, 0NPH.L).

The Alliance will cover the strategic relationship with global suppliers, the joint purchasing of own brand products and goods not for resale. It will be governed by a three-year operational framework.

The company said the alliance will enable both companies to improve the quality and choice of products available to their customers, at even lower prices thereby enhancing their competitiveness. Each company will continue to work with supplier partners at a local and national level.

It is anticipated that the Alliance will be formally agreed within the next two months. Following formal agreement, both parties will start to work towards realising the benefits outlined above.

Read the original article on RTTNews (http://www.rttnews.com/2910041/tesco-carrefour-to-create-long-term-strategic-alliance-quick-facts.aspx)

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This article appears in: World Markets , Stocks
Referenced Symbols: CRERF ,

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