By Marcus Leach

Tesco are threatening to take legal action after the Office for Fair Trading (OFT) slapped them with a £10 million fine following an inquiry into price fixing.

The price fixing dates back to 2002 and 2003 where Tesco, along with eight other firms, were investigated for colluding over the price of milk and cheese.

The supermarket giants expressed "surprise and dismay" that it was included in the penalties handed down by the regulator, that totalled close to £50 million.

Tesco denies it colluded with others in a case that the OFT said UK consumers spent an extra £270 million.

According to OFT the collusion saw consumers spend an extra 3p on a pint of milk, and 15p extra on a quarter of a pound of butter and half of a pound of cheese.

The eight other firms involved were given smaller fines after admitting liability, whilst Tesco denied any collusion and went on to say they would take the case to court if needs be.

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