Hutchison Whampoa (0013.HKG), owned by Hong Kong billionaire Li Ka-Shing, canceled its plan to sell its ParknShop supermarket chain as the proposed deal may not deliver maximum returns, The Wall Street Journal reported. The conglomerate also said on Friday that it is considering expanding a strategic review of retail arm A.S. Watson & Co., which includes ParknShop, to include possible public offerings of all or part of the business, though it wouldn’t relinquish any control. Hutchison launched the sale of ParknShop in June, seeking to fetch between US$3 billion and US$4 billion.
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