Tesco has reportedly moved to the second round of the auction for Carrefour‘s south-east Asian assets.

According to a report in the Financial Times, Tesco is understood to have initially under-bid a handful of other potential acquires in the auction.

However the UK’s largest retailer has now addressed this and will have the opportunity to submit a second-round bid in the coming weeks.

A Tesco spokesperson told just-food that it “does not comment on rumour or speculation”.

According to earlier reports in the Wall Street Journal, the remaining bidders for Carrefour’s stores in Malaysia, Thailand and Singapore include French retailer Casino and PTT PCL, an energy company that has convenience stores at its gas stations.

Other bidders are Thai retailers Big C, which Casino part owns and Central Group, as well as Thai FMCG firm Berli Jucker Pcl.

While Carrefour has denied the plans, it reportedly put its stores in Malaysia, Singapore and Thailand up for sale in July, in a disposal that could raise US$1bn for the French retailer.