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December 10, 2019

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Tesco to pull out

Supermarket chain Tesco, Britain’s biggest retailer, said yesterday that it was looking to sell its businesses in Thailand and Malaysia.

“Tesco ... confirms that, following inbound interest, it has commenced a review of the strategic options for its businesses in Thailand and Malaysia, including an evaluation of a possible sale of these businesses,” the company said in a brief statement to the London Stock Exchange. “The evaluation of strategic options is at an early stage, no decisions concerning the future of Tesco Thailand or Malaysia have been taken, and there can be no assurance that any transaction will be concluded,” it added. Celebrating its 100th anniversary, Tesco is five years into a UK-focused recovery plan after an accounting scandal capped a dramatic downturn in trading.


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