Evergrande sells entire stake in HengTen—China’s Netflix—to relieve debt burden
China Evergrande Group is selling all of its stocks in HengTen Network Group, it's streaming services firm known as the "Chinese Netflix." The aim is to raise HK$2.13 billion (US$273.5 million) as an effort of the debt-laden behemoth to avoid default, Reuters reported on Nov. 18. By selling its 18% stake in HengTen, where Chinese gaming ...
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