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British retail giant Tesco is paying a Chinese state-owned company $558 million to take over its supermarkets in China after failing to make headway on its own since entering the country a decade ago.

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CHINA RESOURCES ENTERPRISES LTD

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                    [Title] => UK's Tesco in $558M China supermarket tie-up
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abtest

UK's Tesco in $558M China supermarket tie-up

By Kelvin Chan | October 3, 2013 - 3:45am

British retail giant Tesco is paying a Chinese state-owned company $558 million to take over its supermarkets in China after failing to make headway on its own since entering the country a decade ago.

World