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BABA-W Reportedly Bids USD1.5B to Acquire Pupu
2026-06-12 09:34:54 BABA-W (09988.HK) offered USD1.5 billion (approximately HKD11.75 billion) to acquire Chinese fresh grocery delivery company Pupu, in a bid to seize online commerce market share from MEITUAN-W (03690.HK), Bloomberg reported, citing people familiar with the matter. Pupu is one of the leading instant fresh retail platforms in Mainland China, with annual revenue exceeding RMB30 billion. BABA-W's proposed acquisition price is reportedly more than double the earlier USD600 million offer made by SUNART RETAIL (06808.HK), highlighting intensifying competition among BABA-W, MEITUAN-W and JD-SW (09618.HK) in the local e-commerce and fresh grocery markets. BABA-W opened 1.49% higher this morning (12th); with extended gains, it hit an intraday peak of HKD110.8. It was last at HKD110.3, up 2.7%, with 12.018 million shares traded, involving HKD1.319 billion. ~ AASTOCKS Financial News Website: www.aastocks.com | |