TURKEY: Tesco in talks over Turkish arm
Tesco Kipa, the Turkish unit of UK retailer Tesco, has today (24 February) confirmed its parent is in talks over possible options for the future of the business.
"Tesco Plc is in the early stages of negotiations with different companies over different options," Tesco Kipa, which is listed in Turkey, said in a statement to the Borsa Istanbul.
The announcement followed speculation late last week that Tesco was weighing up the options for its Turkish business.
Sales have been falling and some in the City said Tesco, after exiting Japan and the US, as well as selling control of its Chinese business, could look at a transaction for its Turkish arm.
The Financial Times said on Friday (21 February) Tesco had held talks with private-equity firm BC Partners, majority owner of Turkish chain Migros Ticaret, about combining their assets.
"We don't comment on rumour or speculation," a Tesco spokesperson told just-style late on Friday.
In another statement to the Borsa Istanbul this morning, Migros Ticaret, responding to the speculation on Friday, said: "As a private-equity company, BC Partners periodically assesses alternatives for all its existing investments, including Migros, as part of the normal flow of its activities."
One of the biggest challenges - and opportunities - facing the apparel industry in 2015 is how best to embrace the omni-channel retail model, improve the shopping experience, and respond with new supp...
Sales of grocery products through internet retailing and the online presence of Hungary’s grocery retailers remained limited for much of the review period, with G’Roby the only significant grocery ret...
Retail value sales of apparel and footwear specialist retailers registered a relatively dynamic performance with growth of 3% in 2014. Although Czech consumers were careful with their money due to the...
Online Retail in the United Kingdom industry profile provides top-line qualitative and quantitative summary information including: market size (value 2008-12, and forecast to 2017). The profile also c...
Internet retailing in Ireland continued to record outstanding growth during 2013 despite the overall weak economic conditions. With the number of store-based retailers offering online facilities growi...
- The Flanarant: TPP – now the real fight starts
- Private label sourcing faces range of pressures
- Can Gap maintain its momentum minus Larsson?
- What clothing could the TPP X-basket contain?
- Where next for e-textiles and smart garments?
- Update: Negotiators agree landmark TPP trade deal
- H&M falling behind on Bangladesh factory safety?
- Nike debuts new fabric for adaptive breathability
- New CEO may focus on Ralph Lauren supply chain
- New Bangladesh labour rules draw union criticism
- Wearable technology: The future market potential for smart garments and e-textiles
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Outdoor performance apparel: peaks, valleys, and green fields
- Global market review of lingerie - forecasts to 2020