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Tesco Denies Interest in Albertson’s


New York City, Giant British retailer Tesco is denying that it has interest in an acquisition of Boise, Idaho-based Albertson’s. Following a press conference about the chain’s performance, according to Reuters, Tesco CEO Terry Leahy said he had heard the rumors of a possible bid for Albertson’s, but hadn’t paid any attention to them.

Tesco, which operates 1,800 stores in the United Kingdom, reported six-month sales 14% higher at ?18.8 billion ($34.0 billion) and profits of ?908 million ($1.64 billion), up 18.7% over last year.

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