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Dalian Wanda buys control of China online payments firm

It takes controlling stake in 99Bill Corp in a deal that sources say is worth 2b yuan

Published Fri, Dec 26, 2014 · 09:50 PM
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Beijing

CHINA'S Dalian Wanda Group Co, whose real estate arm just raised about US$3.7 billion in a Hong Kong share sale, said on Friday that it has bought a controlling stake in 99Bill Corp, a Chinese third-party payment processor similar to PayPal.

China's biggest commercial property developer did not say how much it paid for the stake, which marks its first acquisition in the Internet finance sector, but sources familiar with the deal told Reuters that it may have…

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