Crisis-hit retailer Tesco is looking into selling a stake in its banking arm or floating its Asian business to raise much-needed capital.
A partial float of its Tesco Bank could raise between £500m and £1bn.
Another possibility is carving-off Tesco’s Asian assets and listing them on the stock market separately. That business could be worth between £8bn and £10bn.
Meanwhile, former Tesco boss Sir Terry Leahy has said that the supermarket giant had lost its identity and its connection with customers
But the B&M retail chair added that the big four supermarkets ‘may have seen the worst’ and that Tesco could surprise the industry with the speed of its recovery under new chief executive Dave Lewis.
Sunday Telegraph Business, 1
Sunday Times Business, 1, 2
