According to Reuters, aside from cost-cutting plans, the company plans to sell Tesco Broadband and loss-making video streaming service Blinkbox to TalkTalk. Advisers were also appointed to explore options for Dunnhumby.
Ahead of the announcement, analysts in UK expected the company to include the sale of Tesco Lotus, which is operating over 1,400 stores in Thailand and valued around 5 billion pounds.