View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
May 11, 2015

Tesco sell off of mobile unit in cost-cutting drive

Tesco Mobile is next on the chopping block.

By

Troubled UK grocery giant Tesco will sell off its mobile business as part of a move to cut £22 billion of debt.

Running on O2’s network, the MVNO (mobile virtual operator) offers 99 percent coverage to its 4 million customers. O2 owns a 50 percent share in the business, and could be first in line to purchase the remaining share from Tesco.

The supermarket gained notoriety last year over an accounting scandal during the tenure of former head Philip Clark. New CEO Dave Lewis is currently pushing through a cost-cutting drive which includes selling off assets and closing stores.

Tesco has already sold its Blinkbox video TV service to TalkTalk and plans to sell off many of its stores across the country.

Tesco Mobile is one of many non-core businesses still run by the company, with Tesco Bank also boasting a large number of customers.

 

 

Content from our partners
The growing cybersecurity threats facing retailers
Cloud-based solutions will be key to rebuilding supply chains after global stress and disruption
How to integrate security into IT operations

Websites in our network
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED
THANK YOU