Chinese e-commerce giant JD.com is in talks for a potential full acquisition of Yonghui Superstores, reported Chinese news outlet Jiemian News.
The two parties have undergone a round of preliminary discussion, but no agreement has been reached as of now, the report said.
JD is inclined to acquire all issued shares of Yonghui and comprehensively incorporate Yonghui’s supermarket and fresh food supply chains into the JD system, it said.
The share price of Yonghui Superstores rose 2.6% in the A-share market, while the share price of JD.com gained slightly.