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One tricky pony

9 March 2020 By Aimee Donnellan, Alec Macfarlane

The retailer sold its Thai and Malaysian units for $10.6 bln. The price of 12.5 times EBITDA suggests CEO Dave Lewis prioritised a fast sale. Investors will pocket a 5 bln pound special dividend. With a clear focus on its dominant British business, Tesco will be safer but duller.

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