Anbang Insurance’s $20bn hotel-buying spree has been thrown into doubt by reports that Chinese regulators could block its bids for two big US chains.
Caixin, a respected Chinese financial magazine, reported yesterday that the China Insurance Regulatory Commission could invoke a rule that restricts domestic insurance companies from investing more than 15 per cent of their total assets abroad.
The Anbang deals had a “small probability of completion”, one unnamed authority told the Chinese magazine.
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