Feng Xin, founder of Baofeng Group, has been detained by police and is being investigated for his role in a failed overseas deal. Photo: Weibo

Pursuit of China’s soccer dream turns into nightmare for internet tycoon

  • Shenzhen-listed Baofeng Group says chairman has been detained, triggering a plunge in its share price
  • Sources said the investigation was triggered by the unravelling of a 2016 deal to acquire UK sports agency MP & Silva
Topic |   Mergers & Acquisitions

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Feng Xin, founder of Baofeng Group, has been detained by police and is being investigated for his role in a failed overseas deal. Photo: Weibo
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