Sunac China Rebuts Claims Its Chairman Sought Financing to Increase Its Stake in LeTV Subsidiaries
Xu Wei
/SOURCE : Yicai
Sunac China Rebuts Claims Its Chairman Sought Financing to Increase Its Stake in LeTV Subsidiaries

(Yicai Global) Sept. 7 -- Sunac China Holdings Ltd. [HK:1918] has rebutted claims made by an insider that its chairman, Sun Hongbin, recently went to multiple large-scale commercial banks to negotiate financing to further increase his firm's stake in multiple subsidiaries of Leshi Internet Information & Technology Corp. [SHE:300104] (LeTV), Sina.com reported.

Some banks are inclined to invite Sun for discussions, while others are hesitant, the Securities Daily quoted an insider as saying yesterday.

Sunac China holds an 8.61-percent stake in LeTV, a 15-percent one in Le Vision Pictures Ltd. and about 33.5 percent of Leshi Zhixin Electronic Technology (Tianjin) Co.'s equity through a subsidiary. These shareholdings are worth a total of USD2.31 billion (CNY15.04 billion).

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Keywords: Leshi , SUNAC