Reuters - Video

Edition: US | UK | IN | CN | JP

Video

Breakingviews: Tesco's Chinese retreat

Friday, August 09, 2013 - 04:14

Aug. 9 - Tesco, the world's third biggest retailer, folds its Chinese stores into a joint venture with state-run CRE. A disappointing but realistic move, says Breakingviews.

▲ Hide Transcript

View Transcript

It's a test every sort trees in China and Mexican magnate Carlos Slim moves to KPM -- it work. From what exactly does he want joining me aside to answer these questions have these Robert -- That's great news all right I'm disappointing but realistic is how -- it's how Lawson describes as testament. Yeah I mean -- -- the big markets and to know every -- and company. And his stoker seems to want to have been trying to get some sort of foothold there. And -- a lot of retailer is went in Tesco among them trying to set up its own content of chiding. -- -- That it's difficult when local competition is called top. An old Lou the consumers that should be getting more prosperous and it should be getting easier full. The likes of tax cut it's not a what it's done here is old it's done. Read it to be some bold kind of chiding. In two a big one would -- a local writes and sings realistic. And of course. But what is so disappointing and but a bit and the -- cross hairs you remember how much difficulty. -- golf been to in the US light -- set top stand in line now the US in the on these markets. Are different. Bop its here it does seem to at least be sort of and getting some sort of value out because -- always sort of from a hole -- -- investment perspective -- you know you you agree with this topic I think it's the right thing to do it's because -- realistic but it opened in March -- if we could have. Sosa gets task has got to go in and have 101000 schools across I Asia's biggest market the central central central. It just looks like that was just pie in the sky had changed things. -- -- -- -- And it is is based in picking up and in this area of course and is hitting on the markets in -- -- I think just thinking that this is probably for task do you know I I get -- for retreat eventually. I'm wondering whether from one of those reasons women -- these jobs -- -- Tesco a little bit about option Nazi. I'm -- Nazi over the the -- opera offering. Might be one of those things tax codes baby in the web it and went shopping for a long time it in the -- kind market. And he might have some expertise in the past there. That sent its Chinese partners involved. All right American mobile -- yen Tom what are the anonymous. Well. Perhaps I'm not entirely surprised that. Collison has come in with the itself. -- kite yet it is basically he's he's bid for the 70% he doesn't or lapses of the Dutch -- time. Kite he had -- I'm not surprised well we'll remember that though is this deal to combine Telefonica and KP and German operations. I'm Carlos Slim. I'm didn't disapprove of the division approved it died and a so he's voted to block that -- and well. We think that I'm not deal may go through. It despite fact. Despite despite the -- that's still a lot of moving parts but. Collison has bid for that type again. But KPM deal in Germany can still go ahead. But I would not discount to things firstly that Telefonica comes in. And hops. Takes arrival -- to. Two Carlos slims off by. Or batteries some sort of reworking of this gentleman. Two of them enterprise. Topic it's a really really interest in existing interest to do lots of moving parts. Bob line though is that country and show little to be pretty happy because the president sent letters sent prices up yet. Get Robert -- thinks about. Rob McCall a break he used to watch in the senate and -- -- RUS showed every day 1237. Seventeen setting bsc. -- problems sources.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Breakingviews: Tesco's Chinese retreat

Friday, August 09, 2013 - 04:14