What is claimed to be a ‘miscommunication’ led to Aston Villa overstating the number of companies under the control of new owner Tony Xia.
It was claimed that his company had the controlling interest in five publicly listed companies. In fact it only has a 75 per cent stake in Lotus Health, a large producer of the food additive MSG. Four other companies are said to be in the process of acquisition.
What is claimed to be a ‘miscommunication’ led to Aston Villa overstating the number of companies under the control of new owner Tony Xia.
It was claimed that his company had the controlling interest in five publicly listed companies. In fact it only has a 75 per cent stake in Lotus Health, a large producer of the food additive MSG. Four other companies are said to be in the process of acquisition.
Last month Lotus announced that it had made a net loss in 2015 of Rmb508.5m (£53m) on revenues of Rmb 1.7bn, compared with a net profit of Rmb25.9m (£2m) the previous year.
Tony Xia is considering rebranding the club’s stadium as Lotus Villa Park.