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In the UK, the Telegraph reports that faced with a criminal probe into accounting irregularities at Tesco, not to mention investor discontent with the state of affairs at the company, company CEO Dave Lewis reportedly is considering the sale of a stake in its banking arm, as well as the sale of "several other prized assets including its Asian operations."

One other option being considered - "a sale of Dunnhumby, the division behind Tesco’s Clubcard scheme. It is understood that Tesco has been encouraged to look at disposing of Dunnhumby following a flurry of private equity interest."

According to the story, "A sale of Tesco’s failed Blinkbox video streaming service is under way, with potential bidders sought out in recent days. The company has hired Lepe Partners, a City advisory firm, to handle the sale. However, retail figures believe Blinkbox is unlikely to fetch much money, if any at all, given that it is heavily lossmaking and could end up being closed down instead."

Tesco has disclosed that the early booking of revenue and delayed recognition of costs resulted in an overstatement of profit projections by more than $400 million (US), which has led to the stepping down of eight executives and the resignation of the company's chairman as both internal and governmental investigations proceed.
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