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Co-operative conducts media business review |
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Friday, 03 April 2009 |
The Co-operative Group is assessing its multi-million pound media business.
Estimated in the region of £30m, the decision comes following the takeover of Somerfield.
How-Do contacted the Group to get more details and was given the following statement:
"Following the Somerfield acquisition, we are conducting a review of existing supplier relationships across all the Group's businesses."
 Review
The Manchester-based Group completed its £1.6bn takeover of Somerfield in February, meaning it now holds an 8% UK market share.
At the time chief executive Peter Marks hinted that the review would take place:
"Our first priority now is to start integrating the two businesses – something that will bring real scale benefits, enabling us to provide better value to our customers. There is a strong strategic fit between these businesses and we are looking forward to creating a single business combining the inherent strengths of both Somerfield and The Co-operative Group." Something to add? Then leave a comment below or email us now.
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