March 27, 2018 / 8:13 AM / a year ago

China Vanke says still in still talks to buy Russia's O1 stake

HONG KONG, March 27 (Reuters) - Property developer China Vanke Co Ltd on Tuesday said talks to buy a stake in Russia’s O1 are still ongoing and that no decision has yet been reached.

O1 Properties, one of Russia’s largest commercial property owners, was in talks with Vanke Group about a potential stake sale, a person close to the talks told Reuters in September.

O1 Properties owns 15 business centres in Moscow worth more than $4 billion, according to the company.

China Vanke on Monday reported a 30.3 percent rise in 2017 core annual profit reaching a record high, in line with market estimates.

Reporting by Clare Jim; Editing by Christopher Cushing

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