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New York
2nd June 2023

Tesco UK may consider selling its banking division.

According to Sky News, Britain’s largest retailer Tesco Plc (TSCO.L) plans to examine its participation in the UK banking sector, which could lead to the sale of its banking subsidiary.

According to the story, the grocery chain operator has hired Goldman Sachs to advise on the future of Tesco Bank.

According to the article, the review is in its early stages and may not result in a formal sale procedure.

According to one source, the retailer could consider a partial sale or joint venture

“There is no suggestion that the examination of the firm will result in any type of wind-down or job losses,” Sky News said.