March 5, 2018 / 3:57 AM / 5 months ago

BRIEF-Sun Art Retail says Alibaba has no impact on pace of opening new stores

March 5 (Reuters) - Sun Art Retail Group Ltd:

* SAYS IT AIMS TO OPEN 35 STORES IN 2018, INCLUDING 7 ALREADY OPENED IN JAN

* SAYS ALIBABA BECOMING SHAREHOLDER HAS NO IMPACT ON PACE OF OPENING NEW STORES

* SAYS LARGEST SHAREHOLDER AUCHAN WILL WORK WITH ALIBABA TO EXPLORE OPPORTUNITIES IN EUROPE

* SUN ART RETAIL’S SHAREHOLDERS AUCHAN, RUENTEX SAY THEY HAVE NO PLAN TO REDUCE STAKE IN SUN ART Further company coverage: (Reporting by Hong Kong newsroom)

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