A Tesco store in Qingdao city, in eastern China’s Shandong province. Photo: EPAA Tesco store in Qingdao city, in eastern China’s Shandong province. Photo: EPA
A Tesco store in Qingdao city, in eastern China’s Shandong province. Photo: EPA
Business /  Companies

British supermarket giant Tesco exits China with US$357 million sale of stake to state-owned partner

  • Having struggled to crack the Chinese market, Tesco established the Gain Land venture with China Resources Holdings in 2014
  • The move follows costly exits from Japan and the United States and the sale of its South Korean business
Topic |   Tesco
Reuters
Reuters

Updated: 9:10pm, 25 Feb, 2020

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A Tesco store in Qingdao city, in eastern China’s Shandong province. Photo: EPAA Tesco store in Qingdao city, in eastern China’s Shandong province. Photo: EPA
A Tesco store in Qingdao city, in eastern China’s Shandong province. Photo: EPA
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