Oct 28 (Reuters) - Private equity firm Boyu Capital has

emerged as the frontrunner to buy a controlling stake in

Starbucks' ( SBUX ) China business in a deal that could value

the unit at more than $4 billion, Bloomberg News reported on

Tuesday.

Boyu is most likely to clinch the deal after outbidding

other private equity firms including Carlyle and EQT, the report

said, citing people familiar with the matter.

Starbucks ( SBUX ) and Boyu did not immediately respond to Reuters

requests for comment.

Reuters reported last month that Starbucks ( SBUX ) had invited about

10 potential buyers to submit their non-binding bids by early

September, as the company faces declining market share in key

market China due to intensifying competition from local rivals.

The Bloomberg report said other parties, including internet

companies, could join the talks as limited partners to help

co-finance a deal.