9th Dec 2019 07:44
(Alliance News) - FTSE 100-listed Tesco PLC confirmed on Monday the potential sale of its Asian business, though noted a review of options remains in the early stages.
Tesco, which has operations in both Thailand and Malaysia in the region, said the review of the business began after an expression of interest from elsewhere.
The statement from the UK's largest supermarket came after the Times earlier on Monday had reported the company is mulling a potential sale.
In Tesco's last financial year, ended February 24, Asian sales totalled GBP4.87 billion out of a company-wide figure of GBP44.88 billion. Sales in the region fell 6.2% like-for-like,
By George Collard; [email protected]
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