Starbucks Corp. is considering a full sale or a controlling stake sale of its China operations amid challenges including shrinking market share and competition from low-cost domestic rivals. The American coffee giant has held early talks with more than a dozen potential buyers, including investment firms Hillhouse Capital, FountainVest Partners, Trustar, Centurium Capital, Carlyle Group, and KKR. Offers received value Starbucks' China business at up to $10 billion. Starbucks may retain a minority stake of around 30%, with the remaining shares distributed among new investors holding less than 30% each. A final shortlist of bidders is expected within two months. The potential transaction marks a strategic shift for Starbucks as it seeks to navigate the evolving Chinese market landscape.