RT-Mart up on rumors of potential Alibaba takeover

The China Post
Date: February 17, 2017
By: Christine Chou

TAIPEI, Taiwan — Chinese media reports have recently claimed that Alibaba group

Taxi drivers wait outside an RT-mart on Thursday, Feb. 16. Big changes may come for the company, which currently holds the largest retail market share in mainland China.(Christine Chou, The China Post)

planned to acquire the mainland division of supermarket chain RT-Mart, which is operated by Taiwan-based Ruentex Group (潤泰集團).

The Chinese e-commerce giant declined to make any comments regarding the alleged acquisition.

Sun Art Retail Group (高鑫零售), the Ruentex-backed parent company of China’s RT-Mart, the saw its stock price rise 1.7 percent to a record-busting HK$8.17 on Thursday to end the day at HK$8.03 — its highest value in two years.

A spokesperson for RT-Mart’s parent group in Taiwan said they were not aware of Alibaba’s intentions to acquire the mainland RT-Mart.    [FULL  STORY]

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