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Big-name brands in probe on prices

The makers of some of Britain's best known household brands are at the centre of a probe into alleged price fixing, it was revealed today.The makers of some of Britain's best known household brands are at the centre of a probe into alleged price fixing, it was revealed today. Coca-Cola, PG Tips tea and Aquafresh toothpaste are among almost 100 products reported to be involved in the inquiry by the Office of Fair Trading. Manufacturers Procter & Gamble, GlaxoSmithKline, Kimberly-Clark, Unilever and Coca-Cola all confirmed they had received visits or letters from the competition watchdog. Investigators have also visited a string of supermarkets, including Tesco, Asda, Sainsbury's and Morrisons, reportedly seizing hundreds of e-mails which have been exchanged between the stores and suppliers. The OFT refused to comment on the investigation today, but the organisation's former director John Bridgeman said: "Supermarkets account for a huge amount of consumer expenditure. "It is a £100 billion sector of the economy. There is no smoke without fire. The OFT is not going to go big on this unless it has something to go on." Read more in the Shropshire Star

Business|Apr 29, 2008
Business