Beijing-based supermarket chain Wumart won't move forward with plans to acquire 36 stores and an equity stake in C.P. Lotus Stores, a rival chain partly owned by Thai billionaire Dhanin Chearavanont's Charoen Pokphand Group, the company said. The deal, which would have been structured as a share swap, fell apart after the two sides failed to come to terms after extensive negotiations, Wumart said in a statement Monday.

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