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Chinese Company Becomes Major Shareholder in Sotheby's

1 August 2016

China's Taikang Life Insurance disclosed last Wednesday that it had become Sotheby's biggest shareholder, with a 13.52% stake.

Taikang is run by Chinese tycoon Chen Dongsheng, who helped found China Guardian Auction Co.

Chen is an established power player in the Chinese art market. He modeled his own auction company after Sotheby's. 

Read more at New York Times