Tesco buys foothold in China

Supermarket giant Tesco unveiled its first move into China today after spending £140m (€210m) on a 50% stake in a 25-strong hypermarket chain.

Tesco buys foothold in China
Wed, 14 Jul, 2004 - 09:57

Supermarket giant Tesco unveiled its first move into China today after spending £140m (€210m) on a 50% stake in a 25-strong hypermarket chain.

The joint venture agreement with Ting Hsin, which operates the Hymall-branded business, comes after a three-year search by Tesco for a presence in China.

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