Tesco front runner in South Korea expansion dash

Supermarket giant Tesco is poised to expand its presence in South Korea after making it on to the final shortlist to buy French group Carrefour’s stores in the country.

The UK supermarket is reported to be one of four companies that are still in the running for Carrefour’s 32 stores in South Korea, thought to be valued at between £870m (€1.26bn) and £1.1bn (€1.6bn), newspapers said today.