The China Post
Date: February 17, 2017
By: Christine Chou
TAIPEI, Taiwan — Chinese media reports have recently claimed that Alibaba group
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]