Tesco bids for Carrefour stores in South Korea


4 April 2006 – Seoul (SKR): Tesco’s South Korean unit and South Korean clothing firm E-Land have submitted bids for outlets of Carrefour in a deal valued by analysts at about 1.8 trillion won ($1.8 billion).
Carrefour is selling its 32 discount stores in South Korea. South Korea’s top retailer, Lotte Shopping, and rival Shinsegae are also expected to enter the race for the stores this week.