Tesco ends talks on partnership options in Turkey

Supermarket giant Tesco has confirmed that it has ended talks with a number of parties regarding potential partnership options for its business in Turkey.

The talks were disclosed in notifications to the Istanbul Stock Exchange on 24 February 2014 and 2 April 2014.

In a statement supermarket said: “We are committed to driving value from all our businesses and, for Kipa, we believe that this is best achieved by accelerating our plans to focus the business on its heartlands, minimise capital spend and improve profitability.

“The efforts of the team in Turkey are already evident in a stronger customer offer and improved performance and there is more we can do to drive stronger cash generation and returns.”

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