China’s cash-strapped Suntech considers Italian assets sale

Suntech Power Holdings could offload its solar power generation assets in Italy, a company spokesman said on Tuesday, as the struggling Chinese solar panel maker scrambles to trim debts of more than US$2 billion (HK$15.53 billion).

The former green tech poster child, with a New York Stock Exchange listing and a market value of US$16 billion at its peak, last month defaulted on US$541 million of its dollar-denominated bonds and said its biggest subsidiary was bankrupt.

via Business feed http://www.scmp.com/business/china-business/article/1215993/chinas-cash-strapped-suntech-considers-italian-assets-sale