China Vanke shares climb as Evergrande buys stake, adding new twist to power struggle

China Vanke shares climb as Evergrande buys stake, adding new twist to power struggle

An employee walks past a logo of Vanke at its headquarters in Shenzhen, south China's Guangdong province, November 2, 2015. REUTERS/Tyrone Siu

Shares of developer China Vanke Co Ltd jumped on Friday after peer China Evergrande Group bought a nearly 5 percent stake, adding a new twist to a battle for control of the country’s biggest residential property firm.

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