HONG KONG Jan 13 Hong Kong shares of China
Vanke, which is at the centre of a high-profile power
tussle, were set to jump 8 percent on Friday after its No. 2
shareholder said it planned to sell its stake to Shenzhen Metro
Group, a Vanke ally.
Vanke's shares were suspended from trade in both Hong Kong
and Shenzhen on Thursday ahead of the announcement.
China Vanke said China Resources would not own
any of the company's shares on completion of the sale of its
1.69 billion A-shares to Shenzhen Metro for $5.4 billion.
Vanke's third largest shareholder China Evergrande Group
, which quickly built up its stake late last year, was
set to open up 0.6 percent.
(Reporting by Donny Kwok and Clare Jim; Editing by Anne Marie
Roantree and Edwina Gibbs)