Tesco shares jump on possible sale of Asian business [Reuters (UK)]
Walgreens Boots Alliance, Inc. (WBA)
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Source: Reuters
Tesco shares jump on possible sale of Asian business - Reuters 4 Min Read LONDON (Reuters) - Shares in Tesco ( TSCO.L ) jumped nearly 6% at one point on Monday after Britain’s biggest retailer said it was considering a sale of its remaining Asian businesses, in Thailand and Malaysia, which analysts valued at up to $9 billion. Tesco said on Sunday that it had begun a review of its Asian operations following “inbound interest” in the businesses that generate about 8% of the supermarket retailer’s total annual revenue and 10% of its profit. Tesco said the review was at an early stage and gave no details of the approaches received. Its share price was up 11.7 pence, or 5%, at 243.9 pence at 0915 GMT, after rising as much as 5.6% in early trade. Analysts at Bernstein valued the Asian business at 6.5 billion pounds to 7.2 billion pounds. Tesco trades from 1,967 stores in Thailand and 74 in Malaysia. In the six months to Aug. 24 the businesses together generated sales of 2.56 billion pound
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WBA
Earnings
- 3/28/24 - Beat
WBA
Sec Filings
- 4/22/24 - Form 3
- 4/15/24 - Form 4
- 4/2/24 - Form 4
- WBA's page on the SEC website