Much uncertainty about Vanke's rescue plan
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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.
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