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Tesco Creamed After Profit Restatement/Blackstone Leaves Russia
Much like Sears, many have made the value case over the years that with Tesco's enormous amount of retail space (I believe they're one of the UK's largest property owners?) that the stock is worth more in terms of the sum of the parts.
Tesco is -40% this year. Buffett sold either earlier this year or late last year.
Private equity firm Blackstone (BX) has decided to leave Russia, due to lack of opportunities (although also likely due to uncertainty in regards to sanctions, as well.)
Russia's equity markets must be very limited. Blackstone was quoted as saying they haven't seen any suitable investments there in the past three years. Yes, the sanctions must be having some effect, however indirect.
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