Britain's Tesco to buy out German HIT hypermarket chain in a show of faith

British retail chain Tesco is to take over the German network of HIT h ypermarkets. Tesco has not revealed the value of the transaction, but it is known that it will acquire 13 existing stores, two still under construction and four plots which are ready for development. "HIT is withdrawing from Poland as the market has become too competitive and the biggest retail chains are all present. In order to survive, the company would have to increase the number of its stores," said Tesco's Wojciech Soko3. The British retailer has also issued a formal statement saying, "The decision to take over the HIT chain is a confirmation of Tesco's interest in the Polish market and shows huge trust in the country's developing economy, as an attractive market for foreign direct investment". Tesco manages 47 stores in Poland, recorded over z3. 2 billion in turnover last year and employs 9 thousand people. (Parkiet, p. 7) M.M.