Tesco has completely withdrawn from China
Britain’s largest supermarket chain, Tesco, has withdrawn from the Chinese market – origo wrote. He sold the remaining 20 percent of the chain to his local partner, China Resources Holdings. With the deal, Tesco raised 357 million USD in capital,
Tesco has long suffered in the Chinese market. Back in 2014, the Gain Land joint venture with China Resources Holdings (CRH) that was established, to merge its 131 existing stores with the partner’s 3,000 chain stores. (origo)
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