Tesco has been ordered by the Competition Commission to appoint an independent third party to sell a former Co-op store in Slough after the supermarket giant failed to find a buyer and was accused of reducing competition in the area. The Times, Daily Telegraph
The commission said that despite objections from the company, Tesco must appoint and pay a 'divestiture trustee' to work closely with the competition authority to oversee a 'quick and objective' sale of the site.
The investigation concluded: 'The acquisition of the Co-op store reduced competition and choice in the market for grocery retailing in Slough.'
Its preferred option is for another big supermarket to buy the site and build its own giant store to compete with Tesco’s Brunel Way outlet. However, the watchdog said it would be prepared to allow a retailer to occupy one or more of the existing smaller units if planning approval for a bigger store took too long or was not given.