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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

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JUST THE BEGINNING: Mr Wang has said that he was preparing to shift the focus of the property conglomerate towards other businesses.

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

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