Geely founder's venture buys 79% stake in Chinese smartphone maker Meizu

Geely founder's venture buys 79% stake in Chinese smartphone maker Meizu

A building of the Geely Auto Research Institute is seen in Ningbo, Zhejiang province, China August 4, 2017. REUTERS/Aly Song/Files

A venture run by the founder of Chinese automaker Zhejiang Geely Holding plans to acquire a 79% stake in Chinese smartphone maker Meizu, a statement published by China’s anti-monopoly regulator showed on Monday.