"The analysis of strategic choices is at an early stage, no choices regarding the way forward for Tesco Thailand or Malaysia have been taken and there might be no assurance that any transaction might be concluded".
Industry data released last month showed all of Britain's big four grocers - market leader Tesco, Sainsbury's, Asda and Morrisons - losing market share to German-owned discounters Aldi and Lidl.
Tesco is considering the sale of its operations in Thailand and Malaysia in order to refocus on its domestic business.
Tesco has confirmed that following inbound interest, it has "commenced a review of the strategic options for its businesses in Thailand and Malaysia, including an evaluation of a possible sale of these businesses".
Being in the business for a long time now, Lewis had the insight to foresee the turnaround from the accounting scandal and so announced his plans to leave Tesco in the summer.
Tesco operates nearly 2,000 supermarkets under the brand Tesco Lotus in Thailand and has around 75 Tesco stores in Malaysia.
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"Hence, to us, for any approach to be accepted by the Tesco board for Thailand then it needs to be highly attractive if not a knock-out price", said Shore Capital analyst Clive Black.
At a capital markets day in June, Tesco said it was well placed to grow in Asia, particularly in Thailand, where it saw an opportunity for 750 new convenience stores over the "medium term".
If Tesco does exit Asia the decision could be made by its new CEO, Ken Murphy, rather than incumbent Dave Lewis who is stepping down next year.
Sir Terry opened in Thailand in 1998 as Tesco Lotus, launching operations in South Korea, Taiwan, Malaysia, Japan and China.
Bruno Monteyne, an analyst at Sanford C Bernstein, said a sale could value the operation at £6.5-£7.2bn.
If the sale does not go ahead it means the company will be left with stores in the United Kingdom and Ireland, and unprofitable division in central Europe. unit that includes the Czech Republic, Hungary, Poland and Slovakia.