Much uncertainty about Vanke's rescue plan

Hong Kong

CHINA Vanke has found a saviour. After months of uncertainty, the property developer has unveiled a plan to sell a stake to Shenzhen's metro operator in return for assets worth up to US$9.3 billion.

The deal would help Vanke see off a possible hostile bid. However, shareholders are not yet able to determine whether they are being rescued by a white knight or swallowing a poison pill.