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
Sat, Dec 27, 2014 - 5:50 AM
JUST THE BEGINNING: Mr Wang has said that he was preparing to shift the focus of the property conglomerate towards other businesses.
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.