Tesco to buy S.Korea E-Land's outlets for 976 million pounds
SEOUL (Reuters) - Retailer Tesco's (TSCO.L: Quote, Profile, Research) South Korean unit will buy 36 discount stores from local rival E-Land for 1.95 trillion won (976 million pounds), a spokeswoman at the Tesco unit said on Wednesday.
E-Land bought most of those outlets from France's Carrefour (CARR.PA: Quote, Profile, Research) in 2006 for $1.85 billion (951 million pounds).
Tesco's South Korean discount store chain Home Plus is the second-largest in the country behind Shinsegae's (004170.KS: Quote, Profile, Research) E-Mart chain.
($1=1045.4 Won)
(Reporting by Rhee So-eui; Editing by Keiron Henderson)
© Thomson Reuters 2008. All rights reserved. | Learn more about Thomson Reuters


