Tencent, Alibaba mull biding for AS Watson stake

Source: insideretail, Friday, Mar 22, 2019

Two Chinese internet giants are reportedly evaluating separate bids for a stake in global retailer AS Watson.

As earlier reported by Inside Retail Hong Kong, Singapore sovereign wealth fund Temasek is working with an advisor on options for selling part of its stake in the Hong Kong-headquartered company. The latest reports suggest Temasek is looking to sell a 10% holding for around USUSD3 billion, which would represent a healthy financial gain on its 2014 investment, when it paid USD5.6 billion for 25% stake.