China Vanke shares drop amid spat

Planned controversial $7 billion acquisition of Shenzhen Metro assets leads to battle

Shares of China Vanke Co Ltd, the country's biggest residential developer, tumbled in Hong Kong on Monday. The fall underscored investors' concerns about the clash between the company and its second-largest shareholder, China Resources Co Ltd, over a controversial $6.9 billiondeal it is funding through the issue ofnew shares.

Vanke stocks in Hong Kong fell more than 3.5 percent during intraday trading, although they managed to recoup some losses to close at HK$17 ($2.19), down by 2.97 percent.