Tesco's Asian business, which the supermarket confirmed is being eyed up by a potential suitor, could be worth as much as £7.2 billion, according to the City.
The price tag prediction comes after the supermarket reiterated that it could leave the continent it has operated in for more than 20 years and where it has 2,041 stores with 60,000 workers.
The grocer said it has been approached by a potential buyer and "commenced a review of the strategic options for its businesses in Thailand and Malaysia, including an evaluation of a possible sale of these businesses".
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The City reacted positively to the news, with analysts welcoming the approach, pointing out that it should generate a significant price tag if a deal is agreed.
Shares jumped more than 4% in early trading - up 9.7p to 242p.
Bruno Monteyne, at Bernstein - himself a former Tesco executive - said: "A valuation of £6.5 billion to £7.2 billion seems a fair valuation for an unsolicited proposal."
It remained unclear who the potential suitor is, although Clive Black, retail analyst at Shore Capital, suggested: "One can see how a number of major trade, family office and private equity investors in Asia could be interested in this trophy asset within the Tesco Group, albeit quite what local regulators think needs to be considered."
Operating profits in the division hit £286 million last year from 1,967 stores in Thailand under the Tesco Lotus brand, and 74 in Malaysia.
A Dutch company locked in a battle with one of its local rivals to take over takeaway delivery firm Just Eat has added an extra £200 million to its offer for the British company.
Prosus said it was upping its bid to £5.1 billion, from £4.9 billion, as it tries to outdo an offer from its countrymen at Takeaway.com, who agreed a deal with Just Eat earlier this year.
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It comes after Takeaway's share price has increased by nearly a fifth since Prosus entered the race in late October. This has pushed up the value of Takeaway's offer as it plans to pay Just Eat shareholders in Takeaway stock.
Meanwhile, Prosus chief Bob van Dijk lowered the threshold that his offer would have to reach for it to be considered successful. Now just over 50% of shareholders will have to accept the deal.
Originally the company had said it was looking for 90% acceptance, but it revised this down in November to 75%.
The deadline for shareholders to accept the deal has been extended to December 27.
More housebuilders went out of business in the last 12 months than at any point since 2015, according to new data.
In the year to September, 343 companies in the sector shut their doors.
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The number of companies closing down has increased every year since 205 shut in 2015.
A drop in the value of the pound has helped push up the price of imports, while eastern European workers have left in the wake of the Brexit referendum, leading to increased wages, according to Paul Pittman, a partner at Price Bailey, which compiled the data.
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