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Wanda calls off £470m London land buy amid govt pressure

Move is the latest sign that the group is downsizing

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Published Tue, Aug 22, 2017 · 09:50 PM

    Shanghai

    BILLIONAIRE Wang Jianlin's Dalian Wanda Group Co scrapped plans to buy a land plot in London for £470 million (S$820 million) amid the Chinese government's intensifying scrutiny of overseas investments.

    Wanda's International Real Estate Center is no longer in pursuit of the four-hectare Nine Elms Square land, the Chinese company said in a statement to Bloomberg on Tuesday.

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