Tesco has renewed its trademark in Australia, fuelling speculation it is poised to enter the country. The Australian intellectual property authority's website shows the supermarket renewed its trademark in August - eight months sooner than necessary. Earlier this year, Tesco was linked to a bid for Australian retailer Coles, which was eventually bought by Wesfarmers last month. The Australian market is dominated by just two chains, Coles and Woolworths, which share 65% of the market, according to the latest IGD figures. Competition - or the lack of it - is a major concern in Australia. The promise of a formal investigation into the rising price of food was high on the campaign agenda of recently elected prime minister Kevin Rudd. Michael Baker, an Australian retail analyst with Urbis, said there was a gap for another retailer in the country. "Tesco could succeed in the Australian market with a new concept," he said. "It should target the upscale customer. We have no supermarket that really does prepared foods and it's an open market for someone to step into." A Tesco spokesman said: "We never comment on speculation. The Tesco name is trademarked in many countries around the world."