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Business

Fosun's India plans catch wrong kind of attention

Chinese conglomerate becomes latest to face acquisition hurdles

HONG KONG - Shanghai-based Fosun International has become the latest Chinese conglomerate to meet roadblocks in an overseas acquisition.

The company is reportedly facing problems in gaining approval from the Indian government for its planned acquisition of Hyderabad-based generic injectables maker Gland Pharma. The deal -- to be conducted through its closely held affiliate Shanghai Fosun Pharmaceutical -- would have marked its maiden foray into India.

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