Tesco Says Any China Deals Will Go Through New Retail Venture

Tesco Plc, the U.K.’s largest retailer, said any deals in China will be funded through its new joint venture with state-backed China Resources Enterprise Ltd.

The largest U.K. retailer yesterday said it will pay HK$4.33 billion ($558 million) to gain 20 percent of a venture with China Resources to extend its reach in the world’s most populous nation.