Wumart emerges as leading bidder for stake in Metro's China operations – sources | Progresiv

China’s Wumart Stores has emerged as the front runner to clinch a majority stake in German retail giant Metro’s China business, sources familiar with the auction told Reuters.

Metro declined to comment.

The German wholesaler is selling a majority stake in its China operations, which include 95 stores and real estate assets in major cities such as Beijing and Shanghai, in a deal that would value the business at between 1.5 billion dollars and 2 billion dollars.

The sale move is part of a global reorganisation of the wholesaler and comes as China’s wholesale and retail sectors are experiencing disruption from e-commerce players. (www.reuters.com)