china resources enterprise

China Resources Enterprises proposal is the latest example of a conglomerate streamlining its business to create a more focused story for shareholders.

China Resources Enterprise pulls back after being uncomfortable on price, according to a source, although it is possible the state-backed company may re-join the process at a later stage.

China Resources Enterprise confirmed it has bid for Hong Kong supermarket chain ParknShop, which is owned by Hutchison Whampoa.

The sale is completed at a 7.9% discount during the lunchtime break.