Tesco is understood to be among the leading supermarket chains interested in parts of French giant Carrefour’s assets in Singapore, Thailand and Malaysia.
Carrefour is said to be in the early stages of selling its stores in the three Asian countries, expected to fetch between Euro600m and Euro800m. The sale would be in line with chief executive Lars Olofsson’s strategy to pull out of markets in which the group has little prospect of becoming market leader and invest where it is already a leader, or has a good chance of becoming one.
It is thought that Tesco could be interested in the assets for all three countries. It already has stores in Thailand and Malaysia. Other interested parties are thought to include Big C Supercenter, Dairy Farm International, and Japanese supermarket Aeon.
A Tesco China spokesman told Bloomberg it wouldn’t comment on “market rumours”.