Tesco increases Far East interests

Supermarket chain Tesco today said it had extended a Far East joint venture with electronics company Samsung.

Tesco increases Far East interests
Fri, 22 Oct, 2004 - 15:26

Supermarket chain Tesco today said it had extended a Far East joint venture with electronics company Samsung.

Tesco intends to take its interest in Homeplus in South Korea to 99% by 2011 after agreeing to pay about £200m (€289m) for a further 10% of shares from Samsung Corporation over the next seven years.

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