China plans to take over HNA Group as coronavirus hits business - Bloomberg

China plans to take over HNA Group Co and sell off its airline assets, as the coronavirus outbreak has hit the Chinese conglomerate's ability to meet financial obligations, Bloomberg reported https://www.bloomberg.com/news/articles/2020-02-18/russia-bars-chinese-citizens-death-toll-at-2-000-virus-update on Wednesday, citing people familiar with the matter.

The government of Hainan, the southern province where HNA is based, is in talks to take control of the conglomerate, the report said.

HNA did not immediately respond to an e-mailed request for comment on the Bloomberg report.