Dalian Wanda Sells $1.24B Stake Of Film Business To Alibaba And State-owned Investment Group

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Chinese conglomerate Dalian Wanda Group has announced to sell a combined 12.77% stake in its listed film business Wanda Film for RMB7.8 billion (US$1.24 billion) to Alibaba and a state-owned investment group, according to its security filing.

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