BUZZ-Tesco: turnaround begins

** Tesco shares seen as much as 3 pct higher afterCEO Dave Lewis sets out plan for revival.

** Capex budget halved, finalizes sale of blinkbox and TescoBroadband to TalkTalk and hires new UK CEO

** Like-for-like sales over Christmas come in ahead ofexpectations.

** New UK CEO Matt Davies well regarded, credited withturnaround at Halfords

** No rights issue a relief to existing shareholders.

** Exploring sales of Dunnhumby business, hires GoldmanSachs to review options.

** Stock lost almost half its value in 2014.

(RM: vikram.subhedar.thomsonreuters.com@reuters.net)

Tesco

Halfords

Sainsbury's