Internet behemoth Google has expressed its interest in acquiring struggling Big Four retailer Tesco‘s data division Dunnhumby.
The search engine giant plans to partner with private equity fund Permira to make a joint bid to takeover the firm which handles the supermarket‘s Clubcard scheme.
Google is among a longlist of 10 parties that are being considered by the supermarket giant that will make its decision next month. The first round of bids is scheduled to take places by the end of July, with the company predicted to be worth up to £2bn.
Tesco is selling Dunnhumby in an attempt to raise up to £5bn to settle its balance sheet following the collapse of its profits and the £263m accounting scandal last year.
Google and Permira are likely to face strong competition for the data division. Advertising group WWP is also in the running for Tesco‘s loyalty card wing with the help of General Atlantic Partners and it has been noted that former Tesco executive John Browett has been in discussion with Apax Partners about the data business also.
Next week Tesco is set to announce its latest sales performance at its annual shareholder meeting in London.