A Tesco shopping complex in Fushun, northeast China. The British grocery retailer Tesco became the latest to pull back from Asia after it agreed to sell its Thailand and Malaysia businesses to CP Group. Photo: SCMP A Tesco shopping complex in Fushun, northeast China. The British grocery retailer Tesco became the latest to pull back from Asia after it agreed to sell its Thailand and Malaysia businesses to CP Group. Photo: SCMP
A Tesco shopping complex in Fushun, northeast China. The British grocery retailer Tesco became the latest to pull back from Asia after it agreed to sell its Thailand and Malaysia businesses to CP Group. Photo: SCMP

Tesco, foreign grocers leaving Asia as competition with e-commerce, local rivals intensifies

  • Tesco latest foreign grocery retailer to pull back from Asia, following Carrefour, Metro and Dia
  • E-commerce rivals have taken as much as 40 per cent of grocery sales in China in recent years, according to Oliver Wyman’s Jacques Penhirin

Topic |   Mergers & Acquisitions
A Tesco shopping complex in Fushun, northeast China. The British grocery retailer Tesco became the latest to pull back from Asia after it agreed to sell its Thailand and Malaysia businesses to CP Group. Photo: SCMP A Tesco shopping complex in Fushun, northeast China. The British grocery retailer Tesco became the latest to pull back from Asia after it agreed to sell its Thailand and Malaysia businesses to CP Group. Photo: SCMP
A Tesco shopping complex in Fushun, northeast China. The British grocery retailer Tesco became the latest to pull back from Asia after it agreed to sell its Thailand and Malaysia businesses to CP Group. Photo: SCMP
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