Tesco share price spikes as Dunnhumby sale speculation mounts

 
Lynsey Barber
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Tesco shares have risen (Source: Getty)

Tesco shares spiked four per cent in afternoon trading amid mounting speculation of a potential sale of its lucrative data business Dunnhumby.

A deal, which could be worth as much as £2bn to the supermarket according to analysts, is moving ahead, with WPP and a host of private equity firms vying for the data company behind the Tesco Clubcard loyalty scheme.

Widespread reports cite WPP tabling a bid to take a majority stake in Dunnhumby to expand its data business.

The supermarket, which is undergoing major cutbacks under chief executive Dave Lewis is said to want to keep a stake in the firm, which remains a money-spinner for the retailer.

Shares in Tesco closed up 3.65 per cent at 241.35 pence per share.

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