, Columnist
HNA Pours Gasoline on Its Fire
CEO Adam Tan just made it harder to convince bankers that the company's statements can be trusted.
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If you're trying to put out a fire caused in part by Western bankers having doubts over who really controls your company, it's a good idea to avoid giving the sort of interview that HNA Group Co. Chief Executive Officer Adam Tan gave to the Financial Times this week.
Shares were able to be passed easily between banker Bharat Bhise, an investor called Guan Jun, and HNA's new largest shareholder, the U.S. charity Hainan Cihang Charity Foundation Inc., because the first two parties never really controlled the stock in the first place, the newspaper quoted him as saying: