Best Buy hunts Chinese electronics retailer


27 March 2006 – Beijing (CHN): Best Buy may acquire China’s fourth-biggest electronics retailer Five Star Appliance in a $200 million deal.

The US retail chain, which has submitted a request for approval to China’s Ministry of Commerce, would initially purchase two-thirds of the Chinese retailer, although it will reportedly have the option to increase its stake to as much as 100 per cent.