HONG KONG Aug 9 China Resources Enterprise Ltd
said on Friday is considering a joint venture with
Britain's Tesco PLC for the operation of hypermarkets
and supermarkets in China.
The Chinese conglomerate would hold about 80 percent of the
joint venture, which would also be involved in convenience
stores, cash and carry business and liquor stores in China.
Tesco would own 20 percent of the unit, the Hong Kong-listed
company said in a filing to the stock exchange.
Tesco Plc, the world's number three retailer, is
set to announce on Friday an agreement to merge its operations
in China with a division of state-controlled retailer China
Resources Enterprise (CRE), Sky News reported on
Thursday citing people close to the talks.