Freshfields Bruckhaus Deringer is advising Tesco as the supermarket giant considers selling its Asian business, according to one person with knowledge of the situation.

The supermarket chain said in a statement on the London Stock Exchange on Monday (December 9) that it is reviewing its operations in Asia, which includes considering selling its business there.

Tesco operates about 2,000 stores across Malaysia and Thailand under its Lotus brand. Some reports have estimated a sale of the business could net the supermarket about £7 billion.