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UK retail giant Tesco to pay £214m over accounting scandal

Wed, Mar 29, 2017 - 5:50 AM

Tesco announced in September 2014 that it had overstated profits by £263 million, a figure that was increased to £326 million following an independent audit.

PHOTO: AFP

London

TESCO plc agreed to pay £214 million (S$375.2 million) in fines and investor compensation over its 2014 accounting scandal as shareholders lined up to oppose the British grocer's US$4.7 billion takeover of food wholesaler Booker plc.

The UK's biggest retailer said on Tuesday...

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