Tesco's Homeplus 'On Sale For £4bn'

Media reports say, Tesco has invited six firms to bid for its South Korean business Homeplus, which has been valued at $6bn (£4bn).
Private equity firms KKR & Co, Carlyle Group and CVC Capital Partners are among the firms Tesco has approached, according to Reuters.
The sale is seen as a way of funding Tesco's turnaround plan after last year's accounting scandal.
It is also seen as the best way to cut debt and reverse losses at home.
The sale could be Asia's biggest private equity deal, according to Reuters. It would also be the region's second-largest consumer retail deal ever.
Homeplus refused to comment to its possible sale. Neither were any of the private equity firms believed to have been approached by Tesco willing to comment.
Homeplus is Tesco's largest business outside the UK, with annual revenue of 7.05 trillion won (£4.1bn) in 2014.