Tesco has sold its Czech and Slovak businesses, leaving Hungary as the only country where it still operates outside of the UK.
Tesco's sale of its Czech and Slovak businesses is the latest step in its long retreat from a once-sprawling global presence. The company has gradually retreated from more than a dozen international markets, including Poland, Thailand, China, Turkey, Pakistan, the US, Hong Kong, and South Korea.
The sale will allow Tesco to focus on its core UK and Irish businesses and return capital to shareholders.
Why this matters: The sale highlights Tesco's shift in strategy towards focusing on its domestic market.
What this means for you: If you're a Tesco customer, this sale may not directly affect you, but it shows the company's focus on its UK and Irish markets.
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