Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
BABA-W Reportedly Bids USD1.5B to Acquire Pupu
Recommend 22 Positive 47 Negative 13 |
||||
|
||||
|
BABA-W (09988.HK) offered USD1.5 billion (approximately HKD11.75 billion) to acquire Chinese fresh grocery delivery company Pupu, in a bid to seize online commerce market share from MEITUAN-W (03690.HK), Bloomberg reported, citing people familiar with the matter. Pupu is one of the leading instant fresh retail platforms in Mainland China, with annual revenue exceeding RMB30 billion. BABA-W's proposed acquisition price is reportedly more than double the earlier USD600 million offer made by SUNART RETAIL (06808.HK), highlighting intensifying competition among BABA-W, MEITUAN-W and JD-SW (09618.HK) in the local e-commerce and fresh grocery markets. BABA-W opened 1.49% higher this morning (12th); with extended gains, it hit an intraday peak of HKD110.8. It was last at HKD110.3, up 2.7%, with 12.018 million shares traded, involving HKD1.319 billion. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
