SOUTH KOREA: Tesco unit "in talks to buy Kim's Club"
Tesco's South Korean business generates GBP4bn in sales
The South Korean unit of Tesco is reported to be in talks to buy local supermarket chain Kim's Club Mart.
The deal could make Tesco the country's largest supermarket business in terms of outlets.
Reports out of South Korea have said that terms of the deal have yet to be decided, but a price of 300 billion won (US$239.9m) has been mentioned by the local media.
Tesco's Home Plus currently operates 182 supermarkets, compared to Kim's Club Mart's 50 and market leader Lotte Super's 216.
More to follow...
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