John Allan, Tesco’s chairman has said that the grocer has not discussed big overseas disposals.
The response came in a shareholder meeting in central London where investors approved the retailer’s $6.1 billion (£4.03 billion) sale of its South Korean unit Homeplus to private equity firm MBK Partners.
“At the moment our intention is to hold what we have and to develop it and make the very best of it,” said John Allan.
He did, however, add the warning: “I can envisage circumstances under which that might change.”
John Allan refused to rule out any fundraising but added, “actually we want to get our balance sheet in shape as much through our own efforts as we can, without calling on shareholders to put more of their money into the company.”
