Ding shopped the firm around to investors, including a tech firm run by Li Ka-shing, but found no takers.

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The state-run China Daily quoted Mr. Li as saying that the company planned to return some undeveloped land to the village.

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" Responding to the run-up in WLT, Li said, "Walter has outperformed its peers because it has successfully transformed itself from a sub-prime lending and homebuilding and coal business to a pure play in high margin metallurgical coal business.

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