ParknShop will not join rival Wellcome: CK Hutchison exec.

An executive for Li Ka-shing’s CK Hutchison Holdings has dismissed speculation that its supermarket chain ParknShop could merge with rival Wellcome.

ParknShop and Wellcome. Photo: HKFP collage.

Dominic Lai, CK Hutchison group co-director, was answering a question at the company’s general meeting on Thursday. according to in Indexbox.

Last month, the Financial Times reported this Jardines was in “negotiations” with CK Hutchison to buy ParknShop and merge it with Wellcome, citing four anonymous sources familiar with the matter.

Wellcome is operated by DFI Retail, a subsidiary of Jardines.

There are about 260 ParknShop branches across Hong Kong and Macau, and about 280 Wellcome stores, according to publicly available information from the two supermarket chains.

On Thursday, Lai reportedly praised ParknShop staff for their work in a competitive environment.

Tom founded the Hong Kong Free Press in 2015 as the city’s first widely funded newspaper. He has a BA in Communication and New Media from the University of Leeds and an MA in Journalism from the University of Hong Kong. He previously founded an NGO defending the rights of domestic workers and has contributed to the BBC, Deutsche Welle, Al-Jazeera and others.

Tom leads HKFP – raising funds, managing the team and navigating risk – while regularly speaking on press freedom, ethics and media funding at industry events, schools and conferences around the world.

ParknShop will not join rival Wellcome: CK Hutchison exec.

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