Another billionaire helps China’s Evergrande with stake purchase

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Al Jazeera English published this video item, entitled “Another billionaire helps China’s Evergrande with stake purchase” – below is their description.

Chus are the latest billionaire family to help out their pal, the Evergrande founder, with a 51 percent stake purchase offer.

In China, the property developer Fantasia Holdings failed to make a payment of $205m to its bondholders on Monday.

Investors are already worried that the housing giant Evergrande Group might collapse.

Evergrande is facing China’s largest ever default as it struggles with more than $300bn of debt.

Al Jazeera’s Rob McBride reports from Hong Kong.

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#China #Evergrande

Al Jazeera English YouTube Channel

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About This Source - Al Jazeera English

The video item below is a piece of English language content from Al Jazeera. Al Jazeera is a Qatari state-funded broadcaster based in Doha, Qatar, owned by the Al Jazeera Media Network.

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