Business
Alibaba buys stake in Wanda Film for 750 million dollars
Troubled Chinese conglomerate Wanda announced Monday that e-commerce giant Alibaba has agreed to buy a stake in its cinema division for around 750 million US-dollars, the latest sell-off by the heavily-indebted group. Wanda Film said in a regulatory filing that Alibaba will buy a 7.66 percent stake for 4.68 billion yuan, and a holding company...
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