Tesco has announced it is in talks with a regional Turkish hypermarket group which may lead to a venture in the country. Kipa, which has five hypermarkets in and around Izmir and employs more than 1,000 staff, has signed an exclusivity agreement with Tesco which will last until November 30, but can be extended if required. A spokesman said that talks were at a very early stage, and an announcement had only been made because Turkish Capital Markets Board rules require one to be made at the initial stages of any possible venture. He said the move was in line with Tesco's strategy to investigate developing markets. At its results earlier this year, Tesco predicted that half of its space would be outside the UK by next April. It entered Central Europe in 1994 and moved into Asia in 1997. It is profitable in eight of the 10 countries it operates in and claims to be a market leader in six of them. {{NEWS }}

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