Hutchison Whampoa Scraps ParkNShop Sale

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Oct. 21 (Bloomberg) –- Bloomberg’s Mia Saini reports on Hutchison Whampoa taking its ParkNShop off the market after failing to reach high bids. She speaks to Rishaad Salamat on Bloomberg Television’s “On The Move Asia.” (Source: Bloomberg)

Supermarket chain.

A look at the reasons for the park and shop change of plans.

The park and shop itself is not going to be sold for the time being.

That is right.

The for-sale sign is not hanging.

With both goldman sachs and bank of america and the conclusion was that when not to be up to maximize a value for the shareholders in the way we are translating postop people are not willing to pay.

Exactly.

That is pretty much consistent with the people we are talking to.

They want between $3 billion and $4 billion.

They were looking toward the high end of the spectrum.

At one point in including kkr as well if bp group.

Many of the bidders have to pull out.

If you think about it more broadly, what is happening in hong kong is the supermarket is -- market is saturated.

Partnership has about one heard.

One reason why operationally it is hard to maneuver the markets is because of property.

With surging prices it is hard to claim the type you want.

That is the big issue.

Absolutely.

It makes it probably not an enticing option for some of the bidders especially at that price.

That is one of the reasons why the for sale sign is no longer on sale.

P shop could still be sold, couldn't it?

Not as an entity on its own.

In the statement released by the company which is trading in the red in the morning session, i can tell you that the company is perhaps considering to sell watsons.

It is where park and shop operates.

We are told that perhaps there could be an ipo later.

Off about two percent in the sexual stuff -- in the session.

That is what we are talking about.

You get all of the snacks

This text has been automatically generated. It may not be 100% accurate.

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