Tesco has announced plans to ramp up its efforts in Asia as prime minister David Cameron flew out to China and visited a store.
According to news reports, Tesco is in advanced discussions to buy 61 stores in south-east Asia from France’s Carrefour supermarket chain for about $1 billion.
The supermarket is understood to have submitted “second-round” bids for the Carrefour stores in Malaysia, Singapore and Thailand as it seeks to boost its presence in the fast-growing Asian markets.
Cameron stopped into Tesco at Beijing airport as he headed up a delegation of business chiefs in a two-day visit to aid trade access from China to the UK and vice versa.
No comments yet