Market Overview

Best Buy May Look To Sell Its Chinese Business

Related BBY
UPS Leads List Of 10 Companies With The Most Positive Effect On Their Communities
Guess Which Companies Get The Most Web Traffic?
Best Buy Hits 80-Plus Relative Strength Rating Benchmark (Investor's Business Daily)

Shares of Best Buy (NYSE: BBY) have jumped almost four percent in value following a report by The Wall Street Journal, which cited people familiar with the matter as saying the company is considering a potential sale or partnership for its Chinese-based business.

The source said the company is working with Bank of America Merrill Lynch to explore its options. According to the report, a sale could be worth as much as $300 million. However, some of the people cited have cautioned that it is still too early to make a valuation.

According to The Wall Street Journal, Best Buy has previously pointed to tough online competition in China as a driver for declines in its international business and currently operates around 190 stores in the country.

Posted-In: News Wall Street Journal Rumors Media


Related Articles (BBY)

View Comments and Join the Discussion!

Partner Center