Bain, Blackstone bid for Li Tong Group: Bloomberg

Olympus Capital Asia is looking to sell its stake in Li Tong Group, a recycler of Apple iPhones, Bloomberg reported. A sale could value Li Tong at between $750 million to $1 billion, the story said. Bain Capital and Blackstone are bidding for the company, while the sale has also attracted initial interest from Silver Lake, Bloomberg said.