Tesco brand reportedly to be dropped

UK's biggest supermarket chain will keep one foot in China, analysts say

Britain's biggest supermarket chain, Tesco Plc, is reportedly dropping its brand in China when it officially enters into a joint venture with China Resources Enterprise Ltd, further consolidating the latter as the largest retailer in the country in terms of market share.

Media reports have said the merger would combine Tesco's outlets and shopping centers in China with 2,986 China Resources Enterprises stores, under the Vanguard brand name, according to Beijing Business Today.