Has Bain Capital Won Gome - What Does Gome's Shareholder Dispute Signify for the Future of Private Businesses in China

In November 2008, Huang Guanyu, founder of Gome Electronics, was arrested for bribery, insider trading, and unspecified “illegal operations.” He was eventually sentenced to 14 years in prison.

Huang, a self-made business tycoon, came from a poor peasant family in South China that started doing business by selling radios and watches from a street stall in Beijing in the 1980s. By 2004, Huang was labeled as the “richest man in China.” Huang’s success came largely via Gome, which he founded in 1987. Today Gome is China’s second largest electronics retailer in terms of market value, with over 500 stores around China. Gome’s stock has been listed on Hong Kong’s stock market since 2004.

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