Vanke ends restructuring negotiations with SZMG

Move marks alleviation of tension in the long battle for control of the giant real estate firm

China Vanke Co's shares declined sharply on Monday after it announced that it will terminate an asset-restructuring plan with Shenzhen Metro Group, marking an alleviation of the tension in its year-and-a-half-long battle for control, experts said.

Vanke's A-shares on Monday dropped 6.06 percent to 21.10 yuan ($3.05), the lowest in about four months. Its H-shares also fell, by 3.21 percent.