Tesco Eyeing Mobile Business Sale
Tesco is considering the sale of its mobile business as part of its plan to reduce debts, according to reports in the UK press.
The move is seen as part of chief executive Dave Lewis's scaling-back process, following a disastrous 2014 for the UK's largest supermarket chain.
Tesco Mobile, which has four million customers and is a joint venture with O2, has the largest subscriber base outside of the UK's four mobile network operators, and is thought to be worth £100 million a year in profits.
However, according to the Financial Times, the supermarket has been in discussion with bankers about selling what is the biggest branded mobile phone business in the UK.
Tesco is hoping to sell off a number of its non-core business assets, such as TV service BlinkBox as part of Lewis's rebuilding process.
Last month, Tesco moved a step closer to the possible sale of Dunnhumby after the data-analytics business parted ways with Kroger after 12 years to allow it to work exclusively with other US retailers.
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