Electronics retailer Gome is to take over the running of its Beijing-based rival Dazhong Electronics in what is seen as a step toward acquiring the company, the Wall Street Journal reported. Gome said it has arranged for a US$488 million loan to be made to an independent investment company so this company can buy Dazhong. The deal includes an option for Gome to eventually own Dazhong and, in the interim, a Gome unit will run its rival's business. This new development effectively ends a bidding war for Dazhong between Gome and Suning, the country's second-largest electronics retailer after Gome. Suning said on Thursday that it had ended merger talks with Dazhong. Gome said it expected the deal to boost its business in Beijing, where Dazhong has nearly 70 stores and a market share of more than 50%, and may lead to further consolidation of the electronics retailing industry.