9th May 2006 11:41
Tesco PLC09 May 2006 TESCO RESPONSE TO THE OFT'S DECISION TO REFER THE GROCERY SECTOR TO THE COMPETITION COMMISSION The OFT's decision to refer the grocery sector to the Competition Commission isnot unexpected. The OFT itself has concluded that overall consumers have benefited from fallingprices, an increase in product range and improved service. This is the most important measure of competition and we are confident the CompetitionCommission will endorse this view. Sir Terry Leahy, Tesco Chief Executive, said: "We know that up and down the country millions of ordinary consumers vote withtheir feet when they go shopping. They have a choice and it is one they exerciseevery day. "But we also know that some people have concerns and this inquiry gives us anopportunity to listen to those and address some of the myths surrounding ourindustry. We will also reiterate that the consumer in every walk of lifebenefits from the choice, value, quality, convenience, range and service thatsupermarkets like Tesco provide." ENDS CONTACTS Investor Relations: Steve Webb 01992 644800 Press: Lucy Neville-Rolfe 01992 644645 Jonathan Church 01992 644645 Angus Maitland - Maitland 020 7379 5151 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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