Toothpaste firm up for auction on Chinese shopping portal

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Toothpaste firm up for auction on Chinese shopping portalA toothpaste company has been put up for auction on e-commerce giant Alibaba's Taobao, an immensely popular shopping portal in China which sells everything from mundane household items to jumbo jets. Tianqi toothpaste, a household name in China, and its manufacturer Guangxi Aoqili were listed for auction on Tuesday at a starting price of 163.24 million yuan ($23.6 million). The package on offer included 57 trademarks related to Tianqi, industrial real estate and production equipment, according to the auction notice, which did not explain why the company was being sold or why Taobao was chosen for the transaction.

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