BEIJING/HONG KONG -- The co-owner of China's Tsinghua Unigroup is fighting a proposed rescue plan for the debt-ridden semiconductor producer, warning that it could result in the loss of 73.4 billion yuan ($11.5 billion) in state-owned assets.
Beijing Jiankun Investment Group, which owns 49% of Unigroup, has objected to the restructuring plan offered by a consortium led by Beijing Jianguang Asset Management and Wise Road Capital. The deal involves an injection of 60 billion yuan from the strategic investors.
