Yesterday, real estate and entertainment conglomerate Dalian Wanda Group announced (in Chinese) that it had sold a 12.77% stake in its film subsidiary, Wanda Film, for RMB 7.8 billion ($1.24 billion dollars). The buyers of the minority stake are e-commerce giant Alibaba and the state-backed Cultural Investment Holdings. Alibaba will be acquiring a 7.66% stake […]
The partnership will include more than 40 movies in the upcoming year.
Scale and differing corporate cultures and business model may prove obstacles for Suning to integrate Carrefour China, says one expert.
Chinese public attitude towards gaming no longer sees it as a waste of time.
Founded by Zhang Jindong and his elder brother in 1990, Suning is China’s largest omnichannel retailer.
The acquisition will help the Alibaba-backed retailer shore up its presence in southern China.
The company reportedly inked the deals at 10% to 20% below the going price for acquiring new users.
The JD.com and Wanda-backed group has suffered rumors of production problems.
Chinese social media Weibo comes under fire for the loopholes in lottery drawing algorism.
LY.com, a leading player in China’s local attraction ticket arena, announced on Sunday it’s going to merge Wanda Tourism, the traveling arm of Chinese real estate conglomerate Dalian Wanda Group, with a mixture of cash and stock. After the transaction, LY.com’s market valuation will exceed 20 billion RMB (around $2.98 billion USD) with a cash deposit of […]