China's Wanda Sells Cinema Chain Stake to Alibaba

World News: . []

Billionaire Wang Jianlin’s Dalian Wanda Group is selling shares worth 7.8 billion yuan ($1.2 billion) in his Chinese movie-theater chain to Alibaba Group Holding and a firm partly backed by the government as he seeks to pay down debt at his flagship company.

Read More: https://www.wsj.com/articles/chinas-wanda-sells-cinema-chain-stake-to-alibaba-1517835931?mod=pls_whats_news_us_business_f

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