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Friday 25 July 2014

Tesco shares tumble as retail giant begins probe

Aideen Sheehan

Published 17/01/2013|05:00

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SHARES in Tesco tumbled yesterday amid the fallout.

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Tesco Ireland would not comment on whether it would initiate legal action against supplier Silvercrest over the discovery of horse meat in its burgers and said it was focusing on the investigation into how this had happened.

The supermarket retailer saw £480m (€576m) wiped off its share value in Britain and even British Prime Minister David Cameron weighed in.

"This is a completely unacceptable state of affairs," he said, and called for an urgent investigation by Britain's Food Standards Agency.

Tesco said it had taken a whole range of products supplied by Silvercrest off its shelves as well as the Tesco Everyday Value burger which was found to have 29pc horse meat in it.

Aldi said last night that as well as recalling its Oakhurst burgers found to contain traces of horse DNA, it had also withdrawn its Nature's Isle 100pc Irish Homestyle Beef Burgers from sale because they contained pork DNA,

"Aldi has sought additional information from its supplier, ABP, in relation to the issue," it said.

Dunnes and Iceland have still not commented.

Although the issue of pork DNA in burgers and ready meals has been overshadowed by the horse meat issue, the Food Safety Authority of Ireland said it would meet with companies at a later date to discuss how procedures could be improved to prevent this.

Irish Independent

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