Supermarket Tesco has agreed to a fine and compensation costs totalling £214 million ($268 million, 247 million euros) after an accounting scandal at Britain's biggest retailer, the Serious Fraud Office said Tuesday. Under a deal struck with the SFO over an affair stretching back three years, Tesco will not face prosecution. However, charges have previously been brought against three former Tesco executives, who face trial over alleged fraud and false accounting. "Tesco... has in principle reached a deferred prosecution agreement with the UK Serious Fraud Office regarding historic accounting practice," the supermarket giant said in a statement. Tesco is the world's third-biggest supermarket group after France's Carrefour and global leader and US giant Wal-Mart.

Source: Egypt Independent March 28, 2017 07:07 UTC