Tesco (TSCO) is reviewing its operations in Thailand and Malaysia after receiving interest from a potential buyer.
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The supermarket has been working to improve its international businesses in recent years, reducing promotional activity and exiting unprofitable operations in central Europe and Asia after exiting markets such as the US, Japan and China years ago.
The shares were up 5 per cent following the announcement, as house broker Shore Capital hinted a sale could lead to a return of cash to shareholders. The broker noted the group’s South Korea business sold in 2016 for more than nine times cash profits suggesting its Thai and Malaysian operations could fetch over £5bn.
