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Wumart Stores eyes Shanghai market

Sep. 23, 2009 (China Knowledge) - Beijing-based Wumart Stores Inc<8277>, one of the leading supermarket chains in China, may spend approximately US$600 million to buy smaller rival Times Ltd<1832> to beef up its national distribution network, the Standard reported. Wumart and Times will merge and the smaller unit will be de-listed from the Hong Kong Stock Exchange, if the deal goes on

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