Tesco considers selling Asian businesses
UK supermarket brand Tesco has confirmed that it is considering selling off its Asian business interests.
The grocery chain said, in a statement via the London Stock Exchange, where it’s shares are traded, 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 evaluation of strategic options is at an early stage, Tesco said and 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.
The FTSE 100-listed company said a further announcement will be made if and when appropriate.
Tesco's shares surged 4.8% to £2.43 following the announcement on Monday morning.