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(Adds comment from J Sainsbury)
Jump to full article: Dow Jones via Nasdaq, 2008-04-25
Author: Rod Stone and Michael Carolan Of DOW JONES NEWSWIRES
Intro: The Office of Fair Trading said Friday it will investigate possible price fixing by two tobacco manufacturers and 11 retailers on tobacco products in the U.K.
In a statement of objections, the OFT outlined its proposed findings against the U.K.'s two largest cigarette sellers Imperial Tobacco Group PLC (ITY) and Japan Tobacco Inc.'s (2914.TO) Gallaher, plus retailers Asda - a unit Wal-Mart Stores Inc. (WMT) - The Co-operative Group, First Quench, Wm. Morrison Supermarkets PLC (MRW.LN), Safeway prior to its takeover by Morrison, J Sainsbury PLC (SBRY.LN), Shell, Somerfield PLC (SOF.YY), T&S Stores, Tesco PLC ( TSCDY) and TM Retail.
The alleged price fixing occurred between 2000 and 2003.
John Fingleton, OFT Chief Executive, said: "If we find evidence of anti- competitive activity, we are prepared to use the appropriate powers to punish the companies involved and to deter other businesses from taking part in such behavior."
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