UK/TURKEY: Tesco in exclusive partnership deal with retailer Kipa
British retailing giant Tesco has signed an exclusive deal with hypermarket retailer Kipa with a view to forming a partnership with the Turkish-listed firm. Tesco admitted that it sees Kipa, which has a market value is about £53m (US$), as a good opportunity to move into the Turkish market, but stressed that its discussion are still at an early stage.
British retailing giant Tesco has signed an exclusive deal with hypermarket retailer Kipa with a view to forming a partnership with the Turkish-listed firm.
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Tesco admitted that it sees Kipa, which has a market value is about £53m (US$), as a good opportunity to move into the Turkish market, but stressed that its discussion are still at an early stage.
Any talks will however have to be made public under Turkish Capital Markets Board rules.
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