Starbucks Corp. (NASDAQ:SBUX) denied reports of considering a complete sale of its China operations, though the Seattle-based coffee giant has reportedly initiated preliminary discussions with potential buyers about divesting stakes in its Chinese business.
What Happened: The denial comes after Chinese financial magazine Caixin reported Monday that Starbucks was exploring a full sale, citing unnamed sources. “I can confirm Starbucks is not currently considering a full sale of its China operations,” a company spokesperson told Reuters.
