15 May 2006 – Shanghai (CHN): Citigroup has reiterated its "Buy" rating for Best Buy’s shares following the company’s acquisition of Jiangsu Five Star in China.
The firm sees Best Buy’s investment, the first by a foreign retailer into China’s home appliance and consumer electronics retail sector, as a platform for Chinese expansion. Citigroup said the deal will "save Best Buy 10 plus years versus growing a Chinese consumer electronic business organically".
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