Wednesday, July 13, 2016

Vanke top shareholder Baoneng in spotlight after lending out Vanke shares

HONG KONG, July 14 (Reuters) - China Vanke Co Ltd

said its top shareholder, financial

conglomerate Baoneng, has pledged some of its stake to brokers

in return for funds - a disclosure that has fuelled concerns

about Baoneng's financing and its potential to launch a hostile

takeover bid.

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