SEOUL, KOREA - Tesco Plc CEO Philip Clarke said, "There is no way for Tesco to sell off Home Plus." According to Home Plus on June 16, The CEO of the British retailer said this in a meeting with Home Plus executives during his Korean visit between June 13 and 14, adding, "Korea is the second largest market for Tesco after the UK."
This is quite contrary to the persistent rumor in the industry that Tesco would dispose of Home Plus at a price of 6 to 7 trillion won. Clarke also mentioned Korea in a Tesco Leadership Conference held on May 23 and 24 in Britain, saying, "Korea is one of the high-growth markets as important as Thailand and Malaysia."
Do Sung-hwan, the newly appointed Home Plus president, said in an email message sent to all employees, "Tesco reassured us of its commitment to Home Plus."
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