Tesco said to bid for Carrefour's Asia assets

8th Nov 2010 12:07

Tesco has bid for the Asian assets of its fellow supermarket operator, France's Carrefour, ahead of the second round of bidding, according to sources quoted by Reuters.Carrefour set a November 5 deadline for bids for its shops in Malaysia, Singapore and Thailand to focus on less peripheral markets. Tesco already has a strong position in the Far East, including in Malaysia and Thailand, with Asia accounting for about a sixth of sales. Other bidders for the assets are thought to include Carrefour's French rival Casino, which is said to be interested in the Thai assets.