Schroders: We will support Tesco in 'moving on'

Tesco has agreed to pay a fine of £129m to avoid prosecution for overstating its profits in 2014. The supermarket giant has reached a deferred prosecution agreement with the Serious Fraud Office (SFO) after a two-year investigation.

On Today, Nick Kirrage, fund manager at Schroders, which owns 4.5% of Tesco and is objecting to a planned deal with food wholesaler Booker, said nonetheless they would support the supermarket in "moving on from past mistakes".