Tesco to continue expansion

Tesco has started spending some of the 1 billion-plus Euros that it recently raised in a rights issue. The British supermarket retailer has announced plans to open 10 new stores in Malaysia by the end of this year. Tesco has also made an offer in the UK to acquire the entire share capital of Adminstore Limited which operates 45 convenience stores in the London area. The deal is worth over £50 million.