Tesco is considering offloading its Asian stores in a deal that could value retail operations across its Thai and Malaysian business at up to $9bn (£6.8bn).
The grocer, which has 2,000 stores across the two countries under the Tesco Lotus brand and 60,000 employees, has confirmed that “after receiving inbound interest” the business “has commenced a review of the strategic options for its businesses in Thailand and Malaysia, including an evaluation of a possible sale of these businesses”.
The move comes after a wider international retreat from the grocery titan, which has exited from the USA, South Korea and Japan over the last decade.
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