Tesco seeks to sell part of stake in data firm

Britain’s biggest retailer Tesco Plc is pursuing the sale of a majority stake in its data-gathering arm Dunnhumby, rather than an outright exit or flotation, a source familiar with the situation told Reuters yesterday.

Tesco said in January it would slash costs and sell assets to fund lower prices and mend its finances, as new boss Dave Lewis plots the supermarket’s fightback from years of market share losses, an accounting scandal and debt-ratings downgrades.

As part of that plan, Goldman Sachs was appointed to explore strategic options for Dunnhumby, which analysts value at between £800m and £2bn.