Morrisons takes control of Safeway

Morrisons stirred up the supermarkets price war today with more than 300 cuts in larger Safeway stores.

The reductions have been made on staple products including milk, butter, tea, coffee, sugar and washing powder.

The latest salvo in the price war comes as the Bradford-based chain formally takes control of Safeway today after one of the longest and hardest-fought takeover battles in recent years.

Its £3billion offer for Britain's fourth-largest food retailer was launched 14 months ago but was stalled by a Competition Commission inquiry.

WM Morrison, headed by billionaire Sir Ken Morrison, starts the task of converting Safeway's stores to his company's format.