China’s ailing solar sector is apparently about to see the biggest takeover in its history. One of the industry leaders, Tongwei, has announced the acquisition of a majority stake in ailing competitor Runergy. Tongwei will pay up to five billion yuan (634 million euros) for 51 percent of the shares. According to climate analysts at the consulting agency Trivium China, however, this would be „quite a setback“ for Runergy: The company had an estimated value of around 40 billion yuan in a recently failed IPO attempt.