Chinese solar firm Tongwei plans to take controlling stake in Runergy for $698m

Chinese solar firm Tongwei plans to take controlling stake in Runergy for $698m

REUTERS/Stringer/File Photo

Solar company Tongwei is planning to buy a controlling stake in competitor Runergy for about 5 billion yuan ($697.78 million) in a move that would allow the Chinese company to gain presence in the United States.

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