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Tesco and Asda in Christmas price war

Tesco and Asda have both announced aggressive price cuts in the run up to Christmas.

Tesco said that it had cut its prices by £250m and Asda has slashed its prices by £150m, kicking off a Christmas price war among the supermarkets.

Winter clothing is among the items to be cut in price.

Asda chief financial officer Judith McKenna said: “This Christmas will be the most aggressive on price for a decade.”

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