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Rumor: Gome, Best Buy to Exchange Shares

Beijing Business Today, 12/23/08

Chinese home appliance and consumer electronics retailer Gome (0493.HK), facing pressure from suppliers and banks, has plans to exchange shares with consumer electronics retailer Best Buy. The plans are a result of decisions made by three foreign investment firms, including Capital Group, which collectively hold majority stakes in the two companies.

Keywords: financing Capital Group 0493.HK Best Buy consumer electronics Gome hardware home appliances retail

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