Starbucks is preparing for a record deal, media write

MOSCOW, October 8 - RIA Novosti. Coffee chain Starbucks is considering acquiring burrito chain Chipotle in a potential deal that could be the largest in the history of the global restaurant sector, the Financial Times (FT) reported, citing sources.

"The world's leading coffee chain has been working with advisers in recent months to develop a takeover bid for Chipotle... which has a market value of nearly $39 billion," the newspaper writes.

Thus, the FT notes, the potential deal could become the largest in the restaurant sector since the acquisition of the Canadian Tim Hortons in 2014 by fast food chain Burger King for $11.4 billion.

At the same time, the publication's sources admit that the deal may not take place due to the complexity of the merger of two consumer giants.

Amid reports of a possible deal, Chipotle shares jumped 8%, while Starbucks shares fell 3%.

Starbucks, founded in 1971 in Seattle, operates more than 41,000 coffee shops worldwide.