Published On: Wed, Aug 12th, 2015

Bids to be slashed for Tesco’s data company Dunnhumby

tesco-ceo-dave-lewis-companys

 

Tesco PLC’s Dunnhumby data analysis has had to drastically scale back ambitions for the sale with a price of up to £2 billion ($3.11 billion). as bidders were discouraged by lower than expected earnings and difficulties financing a deal.

The FT citing two people familiar with the auction told FT the bidders were now contemplating offers of about £700 million ($1.091 billion) or less, after discovering that the business was less profitable than thought.

After 100-year history and loong time Britain’s most powerful retailer, Tesco was entered into its biggest crisis when the discovery of a £250 million ($389.6 million) profit shortage.

Tesco is seeking to sell Dunnhumby as part of an asset riddance programme designed to repair its debt-laden balance sheet.

Analysts expect the group may have to tap the market for funding via a multi-billion pound rights issue of shares.

 

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