Tesco in Turkey — risk of operating in emerging markets hits UK retailer

The Saint ReportRetail, saintblog0 Comments

tescoIn a week that Tesco vaunted its international credentials with a move into India, the UK’s biggest retailer was trying to disentangle itself from a row in Turkey that underlines the challenge and reputational risk of operating in emerging markets, The Financial Times has reported.

The development of a large supermarket near Istanbul turned into a political football when the deputy leader of the governing AKP party was accused by opposition politicians of accepting a $1m (£537,000) bribe to help expedite an unorthodox planning proposal.

Tesco told the Financial Times: “Doing business internationally can be challenging for any business but we have a strong set of values which ensure that, wherever we operate, we act responsibly, treat people fairly and abide by local laws and regulations.”

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