Tesco PLCTSCO
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Potential sale of European operations to focus on core UK and Ireland business, likely to streamline operations and improve margins.
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Tesco PLCTesco is considering the sale of its central and eastern European operations, according to reports. The Financial Times reported that the UK's largest supermarket group is exploring a move to find a buyer for the division and focus further on its core UK and Ireland operation. A Tesco spokesman said the company never comments on rumour or speculation. The European arm, which employs around 22,000 people across 56 stores in Hungary, the Czech Republic and Slovakia, saw sales grow by 0.8% to £1.14 billion in the quarter to the end of May. A potential sale would cement the group's focus on the UK and Ireland, and bring an end to previous ambitions to be a global retail giant.
Tesco PLCPotential sale of European operations to focus on core UK and Ireland business, likely to streamline operations and improve margins.