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E-Mart in talks with Thai's CP to sell five outlets in China

South Korean retailer plans to pull out of the market by December

SEOUL/BANGKOK -- South Korean retail giant E-Mart is in talks with Charoen Pokphand Group of Thailand to sell its five stores in China, which have been hit hard by falling sales and mounting losses, a source familiar with the matter said on Friday.

"E-Mart is negotiating with CP to sell its stores in China," according to the source, asking not to be named. "The talks are still ongoing, so we do not know yet how the deal is [going to] unfold." 

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