China's HNA in talks to buy e-commerce firm Dangdang likely valued over $1b

China's HNA in talks to buy e-commerce firm Dangdang likely valued over $1b

The HNA Group logo is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration

China’s HNA Group Co Ltd is in talks to buy a controlling stake in E-commerce China Dangdang Inc in a deal that could value the online marketplace at over $1 billion, two people with direct knowledge of the matter told Reuters.

Dangdang, an Amazon Inc rival in China, is also in talks with other potential investors, said the people, who declined to be identified as the matter was private.

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