JAPAN/UK: Tesco to buy Japanese convenience store chain
The UK's largest supermarket chain Tesco is to enter the Japanese food retail market, having made an offer to buy convenience-store chain C Two-Network for £173m (US$285.8m). Tesco said it had made a recommended offer of ¥3,400 (US$28.8) per share in cash for C-Two Network, which operates a profitable chain of 78 stores, many of which are situated in the Tokyo metropolitan area.
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