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Vanke welcomes Anbang as ally in tussle

Insurer Anbang injects itself into row between Vanke's managers and largest owner for control of the developer

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WILLING PARTNERS: Vanke says it is willing to work with Anbang to explore global opportunities, while Anbang says it will actively support Vanke's development and would like to see stability in the company's management.

Shanghai

CHINA Vanke Co, the developer whose managers are locked in a struggle for control against its largest shareholder, welcomed Anbang Insurance Group Co as an ally after the insurer boosted its stake in the company.

Anbang raised its holding in Vanke's Shenzhen-listed shares

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