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Evergrande investors face 75% hit as company edges closer to restructure

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Analysts say massively indebted China property group likely to be dismantled to avoid triggering market-wide panic

Photograph: Bobby Yip/ReutersPhotograph: Bobby Yip/ReutersThe troubled Chinese property group Evergrande has edged closer to a government-engineered restructuring which could see bondholders take huge losses as Beijing’s price for saving millions of homeowners from financial ruin.

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