The auction for ParknShop, Hong Kong’s largest supermarket by market share, is gathering pace.
Although it may not be the biggest deal to hit the region this year, it has stirred debate in the city on the role of tycoons in the city, not to mention the origin and safety of food.
ParknShop is owned by Hutchison Whampoa, a conglomerate controlled by Asia’s richest man Li Ka-shing, and it enjoys a near duopoly with Wellcome, which is run by British group Jardine Matheson Holdings.
The auction comes amid political and public pressure on tycoons, a new anti-competition law and the entry of...
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