HONG KONG - Behind-the-scenes buyers of a stake in Ping An Insurance from HSBC Holdings may include former Thai prime minister Thaksin Shinawatra and an influential mainland China businessman, according to a Caixin Media report.
About a third of the HK$15.2 billion first tranche of the purchase was funded by the Thaksin family, while the rest came from businessman Xiao Jianhua, Caixin Media's Century Weekly magazine reported, quoting sources.
Xiao is the founder of several banking and securities firms and has also invested in some. He is reportedly close to former top government leaders and mainland securities watchdog officials.
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