Competition watchdog approves sale of Tesco Kipa

ANKARA (AA) - The sale of 173 Kipa stores has received the go-ahead from the Turkish competition watchdog Thursday evening.
On June 10 of last year, the Turkish subsidiary, Kipa, of Britain's biggest retailer Tesco had agreed to sell 95.5 percent of its shares to rival supermarket chain Migros for 302.3 million Turkish liras ($104.33 million).

After approval by the Turkish competition authority, Kipa’s shares increased by about 10 percent on Borsa Istanbul, and Migros shares rose by about 1 percent in the morning session on Friday.