Will Tesco Stay In Hungary?
- 15 Jul 2020 11:36 AM
- Hungary Matters
Should UK retailer Tesco decide to sell its more than 200 stores in Hungary, a local company, rather than a foreign multinational, is the likelier buyer because of competition rules, daily Magyar Nemzet said.
Magyar Nemzet noted reports in the Polish press, citing German food industry journal Lebensmittel Zeitung, that Tesco is again weighing its operations in the region, and equities analysts think this could mean further divestments.
Magyar Nemzet said reports in the German press – which Tesco has dismissed as speculation – suggest the Schwarz group, which owns German discount chain Lidl, could acquire the Tesco stores in the region.
But the paper added that a takeover by a company that already has such a large market presence in Hungary is unlikely to be cleared by Hungarian or European Union competition authorities, paving the way for a potential Hungarian buyer.
MTI Photo: Csaba Krizsán
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