Britain's three biggest electricals retailers, Dixons, Comet and Argos , have offered the competition watchdog legal undertakings to improve the way the extended warranties market works and avoid a referral to the Competition Commission (CC).
The Office of Fair Trading (OFT) said on Tuesday its study of the 1 billion pounds ($1.6 billion) a year electrical goods extended warranties market found consumers may not be getting the best value for money.
It said the promised measures from retailers to address its competition concerns include improving information provided to shoppers and the launch of a comparison website.
'The OFT will now consult on whether to accept (the undertakings) instead of referring the market to the Competition Commission (CC) for a detailed investigation,' it said.
($1 = 0.6331 British pounds)