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China's Taikang Becomes Sotheby's Largest Shareholder

China's Taikang Life Insurance has bought a 13.5% stake in Sotheby's, becoming the largest shareholder of the New York-based auction company.

A Chinese life insurance company run by the grandson-in-law of Chairman Mao Zedong has bought a 13.5% stake in Sotheby’s, citing a “positive view” of the auction house as well as potential interest in a board seat.

For more information regarding the acquisition, please visit http://www.wsj.com/articles/chinas-taikang-life-insurance-takes-13-5-stake-in-sothebys-1469656466

Source: https://www.youtube.com/watch?v=MpqdRQOQVW...
Posted
AuthorCandice Lee