Government To Investigate Chinese Firm's $2 Billion Purchase Of Waldorf-Astoria Hotel | WHAT REALLY HAPPENED

Government To Investigate Chinese Firm's $2 Billion Purchase Of Waldorf-Astoria Hotel

U.S. officials said Monday they are reviewing the Oct. 6 purchase of the Waldorf by the Beijing-based Anbang Insurance Group, which bought the hotel from Hilton Worldwide for $1.95 billion. Terms of the sale allow Hilton to run the hotel for the next 100 years and call for "a major renovation" that officials say has raised eyebrows in Washington, where fears of Chinese eavesdropping and cyber espionage run high.

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