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Bloomberg reports that Tesco "will invest $750 million this year to accelerate the roll-out of digital services and plans to vie with Inc. and Netflix Inc. for U.K. customers."

"To compete in the new area of retailing I believe that Tesco has to be more than a retail company,” CEO Philip Clarke said at a Singapore conference. “We have to become a technology company as well. That’s why, in 2013, we will invest three quarters of a billion U.S. dollars in technology, up threefold in three years."
KC's View:
It is all about being relevant.