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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

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.

PHOTO: AFP

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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