No deal yet for supermarket

Times Ltd, a Shanghai-based hypermarket and supermarket operator, announced last night it had not entered into any agreement over a sale amid speculation over its future.

The company said it will review all proposals and will then determine which, if any, of the proposals to take further. It made an application to resume trading in its shares this morning after it was halted for the second time yesterday.

There is speculation Times is the target of an acquisition by Wumart Stores Inc or Lianhua Supermarket Holding Co.