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PRESS: Tesco Finance Chief Says No Rush On Asset Sales - Telegraph

29th Jun 2015 09:26

LONDON (Alliance News) - Tesco PLC's finance director has said the company does not need to make an "immediate decision" on asset sales and said some shareholders in the company have indicated a readiness to back a rights issue, The Daily Telegraph reported late Sunday.

Speaking after the company's annual general meeting on Friday, Chief Financial Officer Alan Stewart said Tesco "won't be doing anything that it rushed" and said the retailer does not have take an "immediate decision".

It is currently in the process of selling off customer data arm Dunnhumby and has invited bids for South Korean Homeplus business.

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11704592/Tesco-pledges-to-be-patient-over-asset-sales.html

Tesco shares are down 2.0% at 219.25 pence Monday morning.

By Sam Unsted; [email protected]; @SamUAtAlliance

Copyright 2015 Alliance News Limited. All Rights Reserved.


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