China may take over HNA, which has a 20pc Virgin Australia stake
Will WillittsDesk editor
China plans to take over HNA Group and sell off its airline assets as the coronavirus outbreak has hit the Chinese conglomerate's ability to meet financial obligations, Bloomberg has reported.
China has begun assuming control of debt-laden HNA Group, which has a 19.85 per cent stake in Virgin Australia, as Beijing tries to soften the blow from the coronavirus' hit to the national economy, Bloomberg reports.
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