China: HOW CHINA RESOURCES FUNDED BAONENG’S ATTEMPTED TAKEOVER OF VANKE

Realopedia Global Real Estate Portal

A brief calm in the ongoing battle between Vanke founder Wang Shi and the company’s largest shareholder, Baoneng Group, was broken today when an independent member of the Chinese developer’s board confirmed that Baoneng’s Vanke share purchases had been funded by the company’s second-largest shareholder, China Resources.

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Source : China: HOW CHINA RESOURCES FUNDED BAONENG’S ATTEMPTED TAKEOVER OF VANKE