By Maryam Cockar

Tesco PLC (TSCO.LN) and Carrefour SA (CA.FR) confirmed on Monday that they have formally entered into a long-term strategic alliance in order use their buying power with suppliers to cut prices.

In July the companies said that their alliance will cover relationships with global suppliers, the joint purchasing of own-brand products and goods not for resale.

The supermarket chains said they expect that their partnership, which will be governed by a three-year operational framework, will become operational in October.

Write to Maryam Cockar at maryam.cockar@dowjones.com

(END) Dow Jones Newswires

August 06, 2018 02:28 ET (06:28 GMT)

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