China government to take control of Evergrande?

There’s a report going around saying a deal could be announced within days


The report here from Asia Markets says that Evergrande will be restructured into three separate entities in a deal that will allow the Chinese government to take control of the firm, with state-owned enterprises underpinning the restructure.

Essentially, that will prevent any major collapse by company itself as it will instead be converted into a government-controlled entity. In turn, that will limit contagion risks.
Just something to keep an eye out for in the days ahead.
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