29 May 2008
Guardian offers apology to Tesco in libel case
The Guardian newspaper has made an offer of amends to Tesco over a story it published.
In the article, it was alleged that the supermarket chain had set up a complex of offshore firms in order to avoid paying up to £1 billion of corporation tax on a series of property deals.
The libel admission came in defence papers filed to the high court in response to an action started by Tesco last month.
It follows a correction and apology published earlier this month by the Guardian.
However, the newspaper - which is owned by the Guardian Media Group - denies a claim of malicious falsehood which suggested that the story was a "devastating attack on [Tesco's] integrity and ethics".
A Tesco spokesman said: "We have received the Guardian Media Group's defence. This is a serious matter and we are considering our response," Accountancy Age reports.