Tesco might not sell ClubCard... but does anyone actually want it?
Tesco were all set to sell Dunnhumby, the people who are responsible for the ClubCard, but sadly for them, it wasn't worth nearly as much as they thought it was.
A few companies, including Google, sniffed around it, but it seems that no-one wanted to stump up what Tesco were asking. Now, the supermarket behemoth is thinking about abandoning the sale altogether.
All but one of the bidders have withdrawn themselves from the sale process, leaving Tesco boss Dave Lewis to talk to his colleagues and advisers, to see if there's any point carry on with the whole thing.
The sole bidder now, it seems, is the WPP Group, who work in marketing services. With one team at the table, this doesn't give Tesco much in the way of bargaining powers. However, seeing as Tesco just sold Homeplus for £4bn, they might be in less of a rush to offload another bit of their company at a knock-down price.
Initially, Tesco thought they'd get £2bn for their data arm, but that won't be happening now. Tesco are still trying to make up the £6.4bn annual loss for last year, and there's some potentially expensive inquiries by the Serious Fraud Office, Groceries Code Adjudicator and Financial Reporting Council to come yet.
Tesco declined to comment.
TOPICS: High Street News