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."
Tesco Corporation - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service offeri...
Some 190 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people last yea...
Project Synopsis: MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity unde...
Tesco PLC (TSCO) - Financial and Strategic SWOT Analysis Review provides you an in-depth strategic SWOT analysis of the company’s businesses and operations. The profile has been compiled by GlobalData...
Apparel products sold by Tesco are expected to benefit from strengthening of the private label F&F and the expanding space dedicated to apparel in hypermarkets. The Cherokee brand is no longer present...
- 2014: Year in review - Sourcing winners and losers
- COMMENT: The decline of the buying office
- 2014: Year in review - Brand winners and losers
- 2014: Year in review - Retail winners and losers
- Vietnam factories face fire safety challenge
- Wage theft of migrants in Thai apparel industry
- Triumph recalls 22,000 bras for underwire fault
- Investigation uncovers China's dog leather trade
- Nike shares slide on future orders in Q2
- Philippines added to European Union GSP+ scheme