4th Jun 2015 13:13
LONDON (Alliance News) - Tesco PLC is understood to have hired HSBC to advise on the sale of its South Korean operations, estimated to be worth around USD6 billion, Reuters reported Wednesday, citing people familiar with the matter.
The appointment of an adviser is the first concrete step so far seen towards Tesco offloading its Asian assets, following consistent speculation about its plans for its operations in the region, Reuters said.
Both Tesco and HSBC declined to comment to Reuters on the story.
http://uk.reuters.com/article/2015/06/04/us-tesco-southkorea-sale-idUKKBN0OK0TN20150604
By Sam Unsted; [email protected]; @SamUAtAlliance
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