Yahoo Finance Chinese Carmaker Geely Dispels Rumors of Family Ties with President
Investing.com - Efforts to dispel rumors of ties between Geely Automobile Holdings Chairman Li Shu Fu and the family of Chinese President Xi Jinping have not lifted the company’s shares.
Shares of Geely Automobile Holdings Ltd (HK:0175) fell 0.88% to HK$13.58 on Friday morning trading in Hong Kong.
Various Chinese media reported that the name of Li’s wife is Peng Lijuan, which resembles that of Xi’s wife, Peng Liyuan. The similarity sparked rumors that the chairman has ties to the president’s family. Li holds 44.41% of Geely’s shares.
On Monday, Geely filed a notice with the Hong Kong Stock Exchange, which said the name of Li’s wife is Li Wang.
“We are trying to correct the rumors that Li Shu Fu’s wife is President Xi’s sister-in-law,” a Geely spokesperson told Reuters.
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