‘No ParknShop sale’: Li Ka-shing’s CK Hutchison rules out supermarket merger with Wellcome

CK Hutchison Holdings, a company associated with billionaire Li Ka-shing, has officially denied any plans to sell its Hong Kong supermarket chain, ParknShop. Dominic Lai, group co-managing director of CK Hutchison, stated at the company's annual general meeting on Thursday that there is "really no such plan to sell ParknShop." This statement comes amidst reports that CK Hutchison had been in discussions with Jardine Matheson regarding a potential merger between ParknShop and Jardine Matheson's Wellcome grocery chain. Such a merger, if it had occurred, would have resulted in the combined entity controlling less than half of Hong Kong's supermarket market.