Blog: Tesco looks east - even as Carrefour opportunity slips by
Dean Best | 13 September 2010
As I outlined in my last blog, the sale of Carrefour's stores in Malaysia, Thailand and Singapore has been attracting much interest - not least from UK retail giant Tesco.
Sir Terry Leahy told the FT last month that Tesco could be interested in the stores up for sale but, alas, reports out of Asia late on Friday (10 September) suggested the UK firm had been cut from Carrefour's shortlist of bidders.
The Wall Street Journal said the remaining bidders including Carrefour's French peer Casino and Thai retailers Central Group and Big C - in which Casino owns a part stake.
Still, Tesco seems to have plenty of irons in the fire in Asia. The Daily Telegraph reported today that the company is could open a chain of franchise c-stores overseas after a trial in South Korea.
With Philip Clarke, head of Tesco's international business, set to take the role of CEO, expect more overseas moves from the UK's largest grocer.
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