Tesco to consider sale of Thailand and Malaysia businesses
Supermarket giant Tesco may be set to dispose of two of its businesses in Asia in a new strategic move.
According to a statement released this morning, the brand has commenced a review of the strategic options for its businesses in Thailand and Malaysia.
The firm has confirmed that the decision to consider the sale of the businesses has arisen from ‘inbound interest’.
Under the Tesco Lotus brand, the firm operates around 2,000 stores in Thailand and Malaysia, employing 60,000 staff across the two countries.
The announcement marks the latest move by the brand to scale back its international operations, following the sale of its South Korean unit for $6.1bn in 2015 and disposal of its Kipa business in Turkey the following year.
Tesco has stated that “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.”
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