Mainland firms snap up HK assets
By Oswald Chan | China Daily | Updated: 2013-08-27 06:50
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Mainland-based retail and beer conglomerate China Resources Enterprise Ltd confirmed it has submitted a bid for ParknShop, tycoon Li Ka-shing's Hong Kong supermarket chain, at a "reasonable price". CRE said it may partner with United Kingdom-based Tesco PLC on the purchase. Provided to China Daily |
Hong Kong has seen an expansion of investment and acquisitions in sectors such as retail, property and banking, reports Oswald Chan.
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