Deals
China Resources May Join Tesco to Bid for Li’s ParknShop
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China Resources Enterprise Ltd., the state-backed retail and beer conglomerate, said it may partner with Tesco Plc to bid for billionaire Li Ka-shing’s Hong Kong supermarket chain.
China Resources may raise debt and will consider selling “non-core assets” to fund a purchase of the ParknShop chain, Frank Lai, chief financial officer for the Chinese company, said at an earnings briefing in Hong Kong yesterday.