Business China plans to take over HNA Group as coronavirus...

China plans to take over HNA Group as coronavirus hits business

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China plans to take over HNA Group Co and sell its airline company properties, as the coronavirus break out has actually struck the Chinese corporation’& rsquo; s capability to fulfill financial responsibilities, Bloomberg reported https://www.bloomberg.com/news/articles/2020-02-18/russia-bars-chinese-citizens-death-toll-at-2-000-virus-update on Wednesday, pointing out individuals acquainted with the matter.

The federal government of Hainan, the southern province where HNA is based, remains in talks to take control of the corporation, the report stated.

HNA did not instantly react to an e-mailed ask for comment on the Bloomberg report. (Reporting by Bhargav Acharya in Bengaluru and Brenda Goh in Shanghai; Modifying by Vinay Dwivedi)

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