date:Aug 12, 2013
d cede control, with Tesco having just a 20 percent stake, but bring their combined market share close to market leader Sun Art Retail Group Ltd (6808.HK).
Tesco would combine its 131 outlets with CRE's Vanguard unit, which operates 2,986 mainly hypermarkets or supermarkets across China and Hong Kong. The combined business will have some 10 billion pounds ($15.6 billion) in sales, dwarfing the 1.43 billion pounds Tesco generated on its own in China last year.
Retail analysts said the decision