Tesco Plc likely to exit Asia business, focus on home country, EU

Tesco Plc likely to exit Asia business, focus on home country, EU. [Newspaper] (2019)


KUALA LUMPUR: Market observers believe Tesco Plc's (Tesco) consideration to sell its Asian operations allows the supermarket chain to focus on home country and Central Europe operations. Asian operations for the British multinational groceries and general merchandise retailer has been growing strongly since 2015 and 2016, noting that Thailand operations has been the exceptional performer compared to Malaysia. One market observer opined that Tesco's business 'has been good in Asia and thus it is attracting potential buyers.' On Sunday, Tesco was reported to be contemplating to exit its businesses in Asia with the potential stake sale in Malaysian and Thailand stores. In a statement released on Sunday, Britain’s supermarket confirmed it was undertaking a review of the strategic options including an evaluation of a possible sale, following inbound interest from unnamed player.

Item Type: Newspaper
Keywords: Business strategy, Marketing Strategy, Revenue growth, Profit & Loss
Taxonomy: By Subject > Business & Management > Finance
By Subject > Business & Management > Marketing
Local Content Hub: Subjects > Business & Management
Depositing User: Normah Sadaiee
Date Deposited: 29 Jun 2021 07:42
Last Modified: 29 Jun 2021 07:42
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