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Grande losses

22 December 2016 By Kathy Gao, Una Galani

The Chinese property developer has spent $5.2 bln building a 14 pct stake in larger rival Vanke. With the regulator cracking down on capital market “savages” and Evergrande itself ruling out a takeover, the bet is already 13 pct underwater. It can hardly afford the misstep.

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