TESCO is mulling the sale of its business in Thailand and Malaysia, the supermarket giant confirmed yesterday.
The grocer said it had launched a review of the strategic options for the two Asian divisions, where it operates under the Tesco Lotus brand, "including an evaluation of a possible sale".
In a statement Tesco said: "The evaluation of strategic options is at an early stage, no decisions concerning the future of Tesco Thailand or Malaysia have been taken, and there can be no assurance that any transaction will be concluded.
"A further announcement will be made if and when appropriate."
In its interim results published in October, the company said its Thailand and Malaysia operations reported combined sales of £2.6bn, while operating profit jumped 54.1 per cent to £171m.
At the time, Tesco also said it was targeting rapid expansion in Thailand, and outlined a goal to build 750 Express stores in the country within three years.
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