Starbucks China Draws Bids Valuing It Up to $10B, Report Says
1. Starbucks considers selling a stake in its China operations. 2. Valuation for Starbucks China is between $5 billion and $10 billion. 3. Nearly 30 firms submitted offers for a potential stake sale. 4. Starbucks CEO addresses competition from local players like Luckin Coffee. 5. Stock is up 4% this year, with premarket trading increasing by 1.5%.