Tesco linked to China merger

Tesco is expected to announce today an agreement to merge its operations in China with a division of state-run retailer China Resources Enterprise. Citing people close to the talks, Sky said that the supermarket group, is set to sign an agreement to merge its store estate in China with that of Vanguard, which is a part of the state-controlled group. Tesco currently has around 130 stores in China after a 2011 expansion.