Nation's Lander scraps plans to buy stake in Southampton

BEIJING - Chinese stadium builder Lander Sports said late on Sunday it was terminating plans to buy a stake in English soccer club Southampton, citing uncertain factors wrought by changes in China's securities market and policies.

In a statement issued to the stock market, Lander Sports said the process to buy an 80 percent stake in the Southampton's holding company, St. Mary's Football Group, also involved having to gain approval from government bodies including China's foreign exchange regulator and the top economic planner.

"Whether the company can eventually complete the acquisition of the target firm's shares remains uncertain," it said in the statement.