BUSINESS Suning acquisition discussions

BUSINESS

Suning acquisition discussions

Global Times

14:22, February 13, 2019

The Shenzhen Stock Exchange held a talk with suning.com as the Chinese retail giant's purchase of Wanda's department stores seems to fall short of meeting the credit approval standard, domestic news site bjnews.com.cn reported on Tuesday.

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File photo: VCG

Suning.com on Tuesday announced its purchase of 37 department stores from Wanda, media reports said.

Responding to investors' questions, Suning said that the consideration of the transaction, the total assets of the acquisition target, as well as the operating income and net profit, did not meet the standards for disclosure as shown in the listing rules of the Shenzhen Stock Exchange, the report said.

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