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China Evergrande Loses Support of Hong Kong Tycoon Amid Debt Crisis – The Wall Street Journal

Billionaire Joseph Lau’s company says it plans to sell all its shares in the real-estate developer

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A major shareholder in China Evergrande Group plans to sell all of its stock in the ailing Chinese real-estate developer, potentially incurring losses of more than $1 billion in the process.
Chinese Estates Holdings Ltd. , which is controlled by Hong Kong…

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