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Shares of home appliances maker Suning Commerce Group Co surged 7.11 percent on the Shenzhen Stock Exchange on Monday, after media reports said that it may invest in Spain's Barcelona Football Club.
The company said on its verified Weibo account that it would make an official announcement on Wednesday.
Last week, e-commerce giant Alibaba announced it would buy a 50 percent stake in China's top soccer club Guangzhou Evergrande, signaling big Chinese firms' interest in soccer ahead of the upcoming World Cup in Brazil.
China‘s Suning set to buy stake in FC Barcelona
2014-06-09Suning offering free protective screen films for phones
2014-05-20Suning powers up profit-building plan
2014-05-09Suning gets regulator approval for insurance brokerage service
2014-02-18Suning gets nod to sell insurance
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