October 3, 2014 / 11:23 AM / 6 years ago

Tesco says "has no current plans" for rights issue

LONDON, Oct 3 (Reuters) - Troubled British grocer Tesco “has no current plans” for a rights issue, a spokesman for the firm said on Friday.

He was responding to media speculation that Tesco could raise around 3 billion pounds ($4.82 billion) through a share issue to prop up its balance sheet.

Tesco is reeling from an accounting scandal after it overstated first-half profit by 250 million pounds, with over 4 billion pounds knocked off its stock market value. (1 US dollar = 0.6223 British pound) (Reporting by James Davey; editing by Kate Holton)

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