Tesco eyes sale of European arm as dreams of building a global empire fade
Tesco is considering selling its supermarkets in Europe, ending a three-decade attempt to build a global empire.
Britain’s biggest supermarket is working with bankers on what to do with its operations in Hungary, the Czech Republic and Slovakia, according to a report in the Financial Times.
These operations employ more than 22,000 people, include 561 shops, and made up around 4 per cent of Tesco’s profits last year.
It would see the grocer leave its last international markets after exiting several regions since 2015.
The grocer, facing hot competition in the UK, has also sold non-retail operations such as its retail bank to Barclays in 2024 and its South Korean Homeplus business in 2015 for £4.2billion.
Tesco said: ‘We never comment on rumour or speculation.’
Euro stores: Tesco is working with bankers on what to do with its operations in Hungary, the Czech Republic and Slovakia, according to a report in the Financial Times
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