Safeway’s chief executive has attacked the Competition Commission for failing to ensure a level playing field in the grocery business and warned that Tesco’s grip on the retail market is likely to grow ever stronger.
Speaking prior to the completion of the takeover by Morrisons Carlos Criado-Perez warned: “Tesco will just sail away. It will become unreachable and the Competition Commission has perpetrated that. The only thing that could bring Tesco down is its management… and they do not make mistakes.”
Criado-Perez revealed that the Safeway board had always expected a bid from Asda, and were shocked when the commission ruled that the Wal-Mart owned operation could not purchase any part of Safeway.
In the end, he said, the 14-month bid wrangle had made Tesco untouchable and was not a good outcome for shareholders or shoppers. He said: “Tesco is the only company allowed to grow here. Long-term it is not good for consumers.”
No comments yet