Google Considering Bid For Dunnhumby
Credible rumours that Google and Permira are on the brink of making a joint attempt to purchase Dunnhumby, the analytics firm behind Tesco’s Clubcard scheme, have caused the grocer’s share price to jump by 5.1 pence, The Guardian reports.
It is estimated that Dunnhumby’s value is about £2 billion.
Tesco wishes to offload the company as part of its strategy to generate approximately £5 billion in capital, which has been necessitated by recent results. Its latest round of sales figures will be presented at its annual shareholder meeting, which takes place next week.
Among the other potential bidders are Apax Partners, Hellman & Friedman, Bain Capital, Blackstone, Advent International, TPG and CVC.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly