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• In the UK, the Telegraph reports that Tesco has been named Britain's most valuable brand by an organization called Intangible Business, which does market valuations on major British business. The report says that Tesco's brand equity should prove to be a boon to the company in the coming economic slowdown because it will create a level confidence in a consumer class that may be feeling rattled and uncertain.

• Tesco reportedly is acquiring 36 Homever hypermarkets in South Korea for the equivalent of about $1.9 billion (US). The goal is to convert the stores to Tesco's Homeplus format, already operating in South Korea.

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