Tesco talking Turkey

Exclusive negotations with Kipa
Aug 1 2002
Tesco has entered into exclusive talks with Turkish supermarket operator Kipa.

Confirmation of the talks was made under Turkish company law which requires an announcement at the initial stages of any possible venture.
Tesco has signed an exclusivity agreement with Kipa which lasts until November 30, but can be extended if required.
The UK’s largest retailer said the talks were part of its international strategy to investigate developing markets. Kipa has 5 hypermarkets in and around Izmir, with more than 1000 employees.
Tesco entered Central Europe in 1994 and Asia in 1997, and in those regions is now market leader in six of the 10 countries where it operates.

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