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Chair Of Company Eyeing EPL Side Hull City Arrested in Hong Kong

The chair of a Hong Kong-based company that said it had a deal to buy Premier League club Hull City was "arrested in the former British colony," according to Benjamin Robertson of BLOOMBERG. GreaterChina Professional Services Exec Dir David Yip was "taken into custody" by the Independent Commission Against Corruption, the company said in a statement on Thursday. It said that no reason was given for the arrest, which has “no material adverse impact” on the business and operations of GreaterChina. ICAC spokesperson Michael Hui declined to comment. A spokesperson for GreaterChina also declined to comment. The company, valued at $331M, "saw its stock fall" 6.8% on Friday. GreaterChina said in October that it had agreed to buy Hull City for £130M (BLOOMBERG, 4/21).

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