Tesco to buy shareholding
Samsung is to sell its 11 per cent stake in Tesco's South Korean business.

An initial sale of 5 per cent will occur next year and the remaining 6 per cent of Samsung Tesco will be sold at a later date.

Samsung chief executive Chi Sung-Ha said: 'We will sell 5 per cent of our 11 per cent stake in the joint business to Tesco on July 1 next year and then dispose of the remainder afterwards to concentrate on the trading and construction business.'