Tesco (LSE:TSCO) shares moved higher on Wednesday after reports suggested the supermarket group is considering the sale of its operations in Central Europe.
Tesco Said to Be Reviewing Strategic Options
According to a report by the Financial Times, Tesco is working with advisers to evaluate strategic options for its businesses in Hungary, the Czech Republic and Slovakia. Following the report, the retailer’s shares recovered from earlier declines to trade 0.2% higher during the session.
If completed, the disposal would represent another step in Tesco’s strategy of streamlining its international footprint while increasing its focus on its core UK grocery business. The company currently operates supermarkets across all three Central European markets.
Tesco has not commented publicly on the reported plans.
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