Supermarket Tesco is through to the second round of bids for grocery giant Carrefour’s $1bn (£642m) south-east Asian assets, according to the Financial Times.
The chain was one of ten initial bidders for the stores in Thailand, Malaysia and Singapore. Japan’s second largest retail group Aeon as well as French retailer Casino were also said to have expressed interest.
There was a question mark over whether Tesco - which is currently the market leader in Thailand and Malaysia, with shares of 10% and 13% respectively - would make it through to the second round of bids. It is thought Tesco underbid other interested parties.
Chief executive Sir Terry Leahy recently said that Carrefour stores would be “an obvious fit” for the world’s third biggest grocer.
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