KUALA LUMPUR: Market observers believe Tesco Plc's (Tesco) consideration to sell its Asian operations allows the supermarket chain to focus on home country and Central Europe operations. One market observer opined that Tesco's business 'has been good in Asia and thus it is attracting potential buyers.' On Sunday, Tesco was reported to be contemplating to exit its businesses in Asia with the potential stake sale in Malaysian and Thailand stores. No decisions concerning the future of Tesco Thailand or Malaysia have been taken,” it said. BBC reported the Tesco’s Asian operation was a ‘trophy asset’ as likely to achieve a knock-out price, when quoting an analyst at Short Capital, Clive Black.

Source: New Strait Times December 10, 2019 07:07 UTC