HONG KONG - Chinese billionaire entrepreneur and Olympic champion Li Ning is considering taking his namesake sportswear company private from the Hong Kong stock exchange, four people said, adding to a string of such potential deals in a faltering market.

Li is considering leading a consortium to buy out Li Ning Co Ltd, which had a market capitalisation of HK$52.85 billion ($6.8 billion) as of Monday, said the people, who have knowledge of the matter.