Discount retailer braces to take on German food chains.

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Top Swiss discount chain Denner will take over German-owned rival Pick Pay, giving Denner a boost in market share ahead of the arrival of competing German discounters, but costing 250 jobs.

Migros and Coop currently dominate the Swiss retail market, and food prices in Switzerland are significantly higher than in neighbouring Germany. Retailers have been bracing for the advent of Aidi and Lidl, which have cornered almost half of the German market by selling at low...

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