Rumor: Suning.com in Talks to Acquire Okaybuy
BiaNews, 11/30/12
Beijing-based apparel e-commerce firm Okaybuy has been in talks to be acquired by Chinese consumer electronics and home appliances retailer Suning's (002024.SZ) online e-commerce platform Suning.com due to a shortage of funds, but the two companies have yet to discuss valuation or level of funding, according to an industry source. Neither company was available for comment.
Editor's Note: In October it was also rumored that Tencent might acquire Okaybuy (please see "Rumor: OkayBuy Loses Steam, Awaits Tencent Acquisition," MD 10/19/12 issue.
Keywords: apparel e-commerce Internet OkayBuy Suning 002024.SZ M&A Suning Yigou B2C
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