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The International Business Times reports that Tesco Chairman John Allan has warned British Prime Minister David Cameron that Tesco, as well as a number of other British companies, could "relatively painlessly" move their headquarters elsewhere if the country follows through on a threat to leave the European Union.

Cameron, who currently is in a re-election battle, has promised a referendum on the matter of EU membership, but Allan, the story says, "urged the prime minister that a better approach would be to seek reforms first before promising an in-out referendum."

Allan said that he was not choosing political sides, just pointing out that even considering the abandonment of the EU created uncertainty that made it hard to conduct business.
KC's View:
To be honest, I don't completely understand the whole EU membership issue ... but it certainly sounds to me like he's choosing sides.

But it also sounds like an empty threat, since moving the headquarters elsewhere would almost certainly hurt Tesco's attempts to get its UK business back on track.