Jan 29 (Reuters) - British car distributor Inchcape said on Monday it was reviewing strategic options for its UK retail business, including a sale, following approaches from interested parties.

The retail segment of the car dealer, which operates across 40 countries, contributes 10% to the company's total revenue, with functions only in the UK and Poland.

A Sky News

report

earlier said that Rothschild has been hired by the London-listed company to oversee talks for the UK retail arm, which could be valued at "several hundred million pounds".

"This review is at a very early stage and there can be no certainty that it will result in a transaction," the company added.

A spokesperson confirmed with Reuters that the UK retail business incorporates 70 sites and employees 3,700 people.

The retail business has partnerships with brands such as Audi, BMW, Volkswagen and Toyota.

The company previously disposed its Australian retail business in 2019. (Reporting by Anchal Rana in Bengaluru, Additional reporting by Zainab Saifuddin Saifee; Editing by Shilpi Majumdar and Maju Samuel)