Tesco Plc (TSCO)’s third-largest investor, Legal & General Investment Management, questioned the future of the retailer’s U.S. and banking businesses as the company nears completion of a strategic review, the Sunday Times reported, citing the shareholder.
Richard Black, a fund manager at Legal & General, said the company should focus on rebuilding its British grocery business, the newspaper said.
“We have a clear target to break even in America,” Tesco said in a statement. “In the U.K., we began our investment plan last summer, accelerated the pace in January and have already announced important initiatives.”
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