Tesco: reviews options, including sale, for Asian business
(CercleFinance.com) - British retailer Tesco said on Monday that it has launched a review of the strategic options for its businesses in Thailand and Malaysia, assessing their potential sale.
The evaluation of strategic options is at an early stage, and no decisions concerning the future of the unit have been taken, the group said in a statement.
Following the standard formulation, "there can be no assurance that any transaction will be concluded," Tesco noted, adding that a further announcement will be made if and when "appropriate."
This news has sent the company's shares up almost 5% on the London Stock Exchange on Monday morning.
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