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Tesco Woes Require More Asset Sales to Bolster Revival: Real M&A

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Tesco Plc says there’s no need for a fire sale of its assets. The U.K.’s largest grocer still will have to put more of its pieces on the block to supplement the turnaround plan it unveiled yesterday.

The supermarket chain’s efforts include halting dividend payments, selling the Blinkbox video service and hiring advisers to explore a sale of the Dunnhumby analytics business. Chief Executive Officer David Lewis said there’s “no urgency” as far as additional divestitures are concerned. Analysts say more sales are inevitable if the company, valued at 17 billion pounds ($26 billion), wants to shore up its finances without having to raise money in the stock market.