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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.

 

TESCO

tesco-ceo-dave-lewis-companys

British grocery chain Tesco on Wednesday

reported its worst full-year results ever, with

losses of £6.4 billion for 2014-15, although

there are indications of a possible turnaround.

While the company struggles More…

Tesco jet

After stating pie in the sky profits, Tesco has

decided that the only way it can get its feet on

the ground and mollify irate shareholders is

by getting rid of its corporate jets, as reported

by the Financial Times. The More…

Tesco

Prospects look brighter for Tesco, the British

supermarket chain, after Morgan Stanley

upgraded the stock from equalweight to

overweight, according to the Financial Times.

Edouard Aubin, a Morgan Stanley analyst,  More…

tesco-ceo-dave-lewis-companys

Tesco CEO Dave Lewis has unveiled his plan

to turn around the struggling British grocer,

with drastic reductions in its head office staff,

the company dividend, its video service and

pension scheme. Lewis More…

FileTesco_Logo

– Tesco, a leading British supermarket chain,

with stores in North America and Asia, seems

to be suffering from the Plagues of Egypt.

The iconic brand, founded way back in 1919

by Jack Cohen, is a British institution,  More…

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