date:May 28, 2014
UK-based retailer Tesco Plc has failed to reach a deal with unnamed third parties over its struggling business in Turkey, a new setback for Chief Executive Philip Clarke as he seeks to rein in global expansion to focus on reviving the business at home.
Tesco and the company's Turkish subsidiary Tesco Kipa , which it bought in 2003 and now operates 191 stores, made the announcement in brief statements on Tuesday.
Shares in Tesco Kipa fell 9.5 percent to 1.34 Turkish lira ($0.64), valuing the co