Shares in a film unit of Chinese conglomerate Dalian Wanda Group were suspended from trading in Shenzhen after a dramatic fall on Thursday following rumours that banks would dump the firm’s bonds. The group headed by one of China’s richest men, Wang Jianlin, issued a statement rejecting online “speculations” as “just rumours”. “Today, someone on … Read more
A $1 billion bid by China’s Wanda Group for the operator of the Golden Globe awards has been aborted, the US firm’s parent has said, following reports that it was a victim of a Chinese clampdown on overseas investments. The acquisitive Chinese property-to-entertainment group had announced in November it planned to buy Dick Clark Productions, … Read more
A $1 billion bid for US television rights holder Dick Clark Productions by Chinese conglomerate Wanda Group is in trouble, reports said, tripped up by restrictions Beijing imposed to slow a torrent of overseas acquisitions. The acquisitive property-to-entertainment group announced in November it planned to buy the operator of the Golden Globes awards, in what … Read more