Nosy Tarsee has a word to the wise about that fast-food empire’s Vietnam love affair that turned out not to be a marriage but a long-term lease with an option the landlord decided not to renew.

Our favorite conglomerate spent the better part of 15 years clawing its way from junior partner to majority owner of that Asian coffee darling.

Fifty percent in 2012. A plan to cross 51 and consolidate as a proper subsidiary quietly shelved in 2019 for reasons no one bothered to explain. Finally got to 60 percent last year.

Told the stock exchange in March the coffee chain was one of the crown jewels of the empire, dangled an initial public offering (IPO) for early next year, and talked it up as exactly the kind of growth story meant to dazzle new investors abroad.

Fast forward six months. Instead of ringing the bell on that IPO, the empire quietly sold 11 points back to the Vietnamese co-founder’s group, dropping itself to a minority holder while the local partner reclaimed the majority seat.

The press release called it “value crystallization” and a “deeper local ownership” strategy. Read: the crown jewel just got handed back to the family that built it, dressed up as strategy rather than retreat.

Here’s the part that should raise eyebrows in the boardroom and the newsroom alike: the headline price tag pinned on the coffee chain is the exact same number market-watchers were floating for it back in 2022 — before it nearly doubled its footprint.

And the timing is almost too on the nose, this de-consolidation lands just as the empire preps a splashy foreign stock exchange debut for its entire overseas business, a debut that was supposed to be sold on precisely this kind of growth story.

Funny how the jewel gets quietly pried loose right before the ring goes up for appraisal.