Wumart emerges as leading bidder for stake in Metro's China ops - sources

Wumart Stores

11/10/2019 10:37

HONG KONG/DUESSELDORF, Germany, Oct 11 (Reuters) - China's
Wumart Stores has emerged as the front runner to clinch a
majority stake in German retail giant Metro's  B4B.DE  China
business, sources familiar with the auction told Reuters. 
    Metro declined to comment.
    The German wholesaler is selling a majority stake in its
China operations, which include 95 stores and real estate assets
in major cities such as Beijing and Shanghai, in a deal that
would value the business at between $1.5 billion and $2
billion. urn:newsml:reuters.com:*:nL3N216110
    The sale move is part of a global reorganisation of the
wholesaler and comes as China's wholesale and retail sectors are
experiencing disruption from e-commerce players.

 (Reporting by Matthias Inverardi in Duesseldorf, Julie Zhu in
Hong Kong and Arno Schuetze in Frankfurt
Writing by Edward Taylor
Editing by Michelle Martin)
 ((Edward.Taylor@thomsonreuters.com; +49 69 7565 1187;))