22nd Sep 2015 05:45
LONDON (Alliance News) - Tesco PLC is set to decide in the next couple of days whether to abandon the sale of its Dunnhumby customer data unit, after financing concerns meant all but one of the bidders have dropped out of the auction, Sky News reported.
Sky, citing insiders, said Tesco Chief Executive Dave Lewis is to hold talks with colleagues and advisers later this week about plans for Dunnhumby, which uses data collected from the retailers' Clubcard loyalty scheme.
The sources said the company has not made a decision about the unit, but said Lewis is likely to want to make a decision immediately whether to continue with the sale.
WPP PLC, the marketing and advertising group, is understood to be the sole bidder still in the race to buy Dunnhumby, after private equity suitors withdrew from the process.
http://news.sky.com/story/1556556/tesco-close-to-pulling-700m-data-unit-sale
By Sam Unsted; [email protected]; @SamUAtAlliance
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