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Tesco ends talk on potential business options in Turkey

May 27, 2014 (United Kingdom)

Tesco has confirmed that it has ended talks with various parties in respect of potential options for its business in Turkey. The talks were disclosed in notifications to the Istanbul Stock Exchange on 24th February 2014 and 2 April 2014.

Tesco is committed to driving value from all our businesses and, for Kipa, it believes that this is best achieved by accelerating its plans to focus the business on its heartlands, minimise capital spend and improve profitability.

The efforts of the team in Turkey are already evident in a stronger customer offer and improved performance and there is more we can do to drive stronger cash generation and returns.

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