Vanke sees US$10b erased as takeover battle loses sway

Hong Kong

SHARES of China Vanke Co are tumbling as a crackdown on leveraged buyouts complicates a takeover battle for the nation's largest listed property developer.

The Shenzhen-based company has plunged 23 per cent in Hong Kong this month, the biggest loser among the 149 members of the MSCI China Index, to erase US$10 billion of market value.