Reported about 15 hours ago
Bidders looking to acquire a portion of Starbucks' China operations have valued the business at approximately $5 billion, making it one of the most significant divestments by a global consumer company in recent years. Despite facing fierce competition from local brands like Luckin Coffee, which is rapidly gaining market share, Starbucks has invited several potential buyers to submit bids. The company's valuation remains under discussion, as it intends to keep a meaningful stake in the China business, despite its declining market share in the country.
Source: YAHOO