BEIJING -- China's HNA Group has abandoned plans to buy Beijing-based e-commerce company Dangdang as strained finances force the troubled conglomerate to unload hotel and other assets abroad.
Internet technology arm HNA Technology announced the cancellation Wednesday. Under plans announced in April, it would have acquired 100% stakes in two e-commerce companies under Dangdang, including Beijing Dangdang Information Technology, for 7.5 billion yuan ($1.1 billion).
