UK supermarket group Tesco is reported to be in talks to buy a stake in a Chinese retail chain in a bid to break into what is potentially one of the world’s biggest consumer markets.
Go deeper with GlobalData
Tesco, which has long been expected to enter the Chinese market, is seeking to buy a 50% stake in Tsing Hsin International, which owns 25 hypermarkets in China, for around US$200m, reported the Financial Times.
The negotiations are believed to have been taking place for some time but are now at an advanced stage, the newspaper reported, citing sources close to the situation.
Tsing Hsin operates stores under the Hymall and Le Gou banners, and has ten stores in Shanghai.
Several other foreign retailers, such as US-based Wal-Mart, France’s Carrefour and Germany’s Metro, already have operations in China.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
