Hutchison says no interest in investing in GOME

HONG KONG | Mon May 25, 2009 10:17pm EDT

HONG KONG May 26 (Reuters) - Hutchison Whampoa (0013.HK) on Tuesday said it has no interest in bidding for a strategic stake in electric appliance chain operator GOME (0493.HK).

"We have no interest," Hutchison spokeswoman Laura Cheung said. She said Tycoon Li-Ka-shing, who controls conglomerate Hutchison, was not even personally interested in investing in the company.

The Hong Kong Economic Journal on Tuesday reported that Li Ka-shing and Fosun International (0656.HK) chairman Guo Guangchang were interested in bidding for a strategic stake in GOME, citing mainland media reports.

Fosun officials were not immediately available for comment.

Kohlberg Kravis Roberts & Co [KKR.UL] and Bain Capital emerged as contenders to make rival bids for a large stake in GOME, China's top electronics retailer, sources told Reuters last month.

GOME, whose founder and ex-chairman are being investigated for alleged financial misconduct, aimed to sell a stake of up to 20 percent to new investors to improve the company's capital base, said the sources briefed on its plan.

GOME shares have been suspended since November 24, 2008. (Reporting by Donny Kwok; editing by Chris Lewis)

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