December 31, 2013 / 4:02 AM / 4 years ago

Trent shares gain after panel approves Tesco deal

MUMBAI (Reuters) - Shares in supermarket chain Trent(TREN.NS) rose 2.14 percent a day after the foreign investment regulator approved a $110 million investment plan by Britain’s Tesco(TSCO.L).

A worker arranges food packets inside a retail store in Kolkata October 24, 2013. REUTERS/Rupak De Chowdhuri/Files

Tesco this month took the initial steps to becoming the first foreign company to set up a chain of supermarkets in India’s $500 billion retail sector after announcing it had applied to buy a 50 percent stake in Tata Group’s Trent Hypermarket.

Reporting by Himank Sharma; Editing by Anupama Dwivedi

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