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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Tesco    TSCO   GB0008847096

TESCO (TSCO)
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Delayed Quote. Delayed  - 11/17 05:35:15 pm
184.7 GBp   +0.19%
11/17 TESCO : Form 8.5 (EPT/RI) - Tesco Plc Amendment
11/17DJMAJEDIE ASSET M : Form 8.3 - Tesco Plc
11/17 TESCO : Form 8.3 - TESCO
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Tesco : UK Regulator Provisionally Clears Tesco's Merger with Booker

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11/14/2017 | 09:19am CET

By Ian Walker

The U.K. Competition and Markets Authority provisionally cleared a merger between Great Britain's number one grocer, Tesco PLC (>> Tesco), and wholesaler Booker Group PLC (>> Booker Group), saying that the level of competition in their respective markets is sufficient to counterbalance any rise in prices or reduction in service levels.

The regulator Tuesday said that the two companies don't compete head-to-head in most of their activities, stressing that Tesco doesn't supply the catering sector where Booker makes more than 30% of its sales.

The U.K. regulatory body referred the merger for further investigation in July as it believed the deal could lead to worse terms for shoppers.

On May 31 the authority said that it would investigate Tesco's proposed 3.7 billion-pound ($4.3 billion) cash-and-stock offer for Booker. The deal, announced in January, would combine the U.K.'s largest retailer with the country's largest food wholesaler, a surprise move that could bring hefty cost savings for the supermarket operator.

"Our investigation has found that existing competition is sufficiently strong in both the wholesale and retail grocery sectors to ensure that the merger between Tesco and Booker will not lead to higher prices or a reduced service for supermarket and convenience shoppers," Simon Polito, chair of the regulator's inquiry group, said Tuesday.

In response, Tesco said that it welcomed the announcement and that it would work with the regulator as it prepares its final report, due by the end of the year.

Tesco expects to complete the merger in early 2018.

Write to Ian Walker at [email protected]; @IanWalk40289749

Stocks mentioned in the article : Tesco, Booker Group
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Latest news on TESCO
11/17 TESCO : Form 8.5 (EPT/RI) - Tesco Plc Amendment
11/17DJMAJEDIE ASSET MANAGEMENT LTD MAJEDIE : Form 8.3 - Tesco Plc
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Financials ( GBP)
Sales 2018 57 344 M
EBIT 2018 1 549 M
Net income 2018 785 M
Debt 2018 3 232 M
Yield 2018 1,79%
P/E ratio 2018 18,03
P/E ratio 2019 15,42
EV / Sales 2018 0,32x
EV / Sales 2019 0,30x
Capitalization 15 128 M
Chart TESCO
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Tesco Technical Analysis Chart | TSCO | GB0008847096 | 4-Traders
Technical analysis trends TESCO
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 2,02  GBP
Spread / Average Target 9,4%
EPS Revisions
Managers
NameTitle
David Lewis Group Chief Executive Officer & Director
John Murray Allan Non-Executive Chairman
Alan J. H. Stewart Chief Financial Officer & Executive Director
Edmond Mesrobian Chief Technology Officer
Deanna Watson Oppenheimer Senior Independent Non-Executive Director
Sector and Competitors
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