SHANGHAI, April 18 (Reuters) - Chinese footwear giant Belle
International Holdings Ltd has suspended trading in
its shares pending an announcement related to Hong Kong's
"takeovers and mergers" code, the firm said in a filing on
Bloomberg, citing people with knowledge of the matter,
reported Belle's management were in talks with CDH Investment
Fund Management Co about a potential buyout.
Reuters could not immediately reach Belle for comment. CDH
did not immediately respond to requests for comment.
Belle said in its statement to the Hong Kong stock exchange
that its shares would be suspended "pending the release of an
announcement pursuant to The Hong Kong Code on Takeovers and
Mergers, which is price sensitive in nature."
China's top footwear retailer, which has over 20,000
mainland outlets, expects to see a sharp profit fall when it
reports full-year earnings in May as shifting consumer style
preferences put pressure on its shoe business.
Belle distributes several sportswear brands, including Nike
, Adidas, Puma and Converse.
It has a market capitalisation of HK$44.45 billion ($5.72
($1 = 7.7743 Hong Kong dollars)
(Reporting by Adam Jourdan and SHANGHAI newsroom; Editing by