Tesco and Carrefour plan 'strategic alliance' of retail giants

Tesco has said it is planning a "Long-term, strategic alliance" with French retail giant Carrefour, as the two try to cut costs in the face of increasing competition. Tesco is the UK's largest retailer while Carrefour is Europe's largest. Tesco chief executive Dave Lewis said: "By working together and making the most of our collective product expertise and sourcing capability, we will be able to serve our customers even better, further improving choice, quality and value." Tesco itself recently completed the purchase of wholesaler Booker, and in April, Sainsbury's said that it was in advanced talks to buy Asda. The traditional big four UK supermarket chains - Tesco, Sainsbury's, Asda and Morrisons - have faced increasing competition from the rapidly-expanding budget chains Lidl and Aldi over the past few years, and there is now the added threat of internet giant Amazon moving into the sector.

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