Tesco is in talks to buy South Korean supermarket chain Kim’s Club Mart, as it seeks to become the biggest operator in its largest market outside the UK.
Home Plus, Tesco’s South Korean business, said the details of the deal have not yet been agreed, although reports claimed the UK retailer would pay the equivalent of £165.7m for a 98% stake in Kim’s Blug Mark. Kim’s is owned by E-Land Retail.
Daily Telegraph 12/06/10 page 34