An incarcerated Chinese billionaire temporarily unseated three directors representing foreign investors in his Hong Kong-listed flagship, suggesting that prison is no barrier to corporate influence in China.
Two holding companies controlled by Huang Guangyu, ranked as China’s richest man in 2008, voted his shares against the re-election of three directors at Gome, one of the country’s largest electronics retailers.
Mr Huang has been in detention since November 2008 and was put on trial in Beijing last month for insider trading, bribery and illegal business dealings. A verdict is pending.
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