Tesco Not Interested in U.S. Acquisition
New York City, In an interview published in The Observer newspaper, Tesco CEO Terry Leahy waved off any interest in expanding in the United States. But China offers interesting possibilities, he added. “People have talked about businesses in the U.S. that could be bought, but I don't think they are right for us,” said Leahy, according to the newspaper. One of those businesses that was talked about was Boise, Idaho-based Albertson’s. In China, Tesco already operates 50 hypermarkets in concert with Hymall. The U.K.’s leading retailer intends to “scale up” there, Leahy said.