A Bloomberg report on Chinese authorities requesting Anbang Insurance Group to sell its overseas assets
Bloomberg citing people familiar with the matter
- The government has also asked Anbang to bring the proceeds back to China after disposing of holdings abroad
- It is not clear yet how Anbang will respond, the people said."Anbang at present has no plans to sell its overseas assets," the company said in a WeChat message. "Currently, Anbang's various businesses and operations are all normal, and the company has ample cash and sufficient solvency capabilities." A representative for China's insurance regulator had no immediate comment when reached by phone.
And ZeroHedge has this, also: Beijing Blowback Begins: China Orders Anbang To Sell Its Overseas Assets
