How Will Best Buy (BBY) Stock React To Potential Sale Of Its Chinese Business?

NEW YORK (TheStreet) -- Shares of Best Buy Co., Inc. (BBY) are up slightly in pre-marekt trade, 0.52% to $29.2, as the technology products retailer evaluates its portfolio abroad and considers its options, including a sale or partnership for its Chinese business, sources told the Wall Street Journal.

The company is working with Bank of America Merrill Lynch (BAC), sources say.

The Chinese business reportedly could be sold for about $300 million.

Must Read: Warren Buffett's 25 Favorite Growth Stocks

 
  
BBY Chart

BBY data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

This Is How to Avoid Becoming Amazon Roadkill

Wall Street Overlooks Trump's North Korea Threats to Hit New Records

Best Buy Disappointment Sends Retailers Into a Spin