Two of the biggest names in Hong Kong business are in talks over a supermarket deal that could lead to a single dominant player in the city’s grocery market.
Jardines is in negotiations with Li Ka-shing’s CK Hutchison to acquire its supermarket division — which trades as ParknShop — and merge it with Wellcome, according to four people familiar with the matter.
A deal, involving the top two food retailers in the territory, would be the equivalent of Tesco buying Sainsbury’s in the UK or Walmart merging with Costco.
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