Yum China rejects Hillhouse buyout offer - CNBC, citing Dow Jones

(Reuters) - Yum China Holdings Inc <YUMC.N>, the operator of KFC, Pizza Hut and Taco Bell restaurants in the world's most populous country, has rejected a buyout offer of $46 (£35.7) per share from Hillhouse Capital, CNBC reported https://bit.ly/2PKm14Y on Tuesday, citing Dow Jones.

The company's shares rose 7 percent to $38.32 in afternoon trading.

Earlier this month Reuters reported that Chinese investment firm Hillhouse Capital Group was planning to lead a consortium to buy Yum China.

(Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta)