Alibaba leads $1.24b investment in Dalian Wanda's listed film unit

Alibaba leads $1.24b investment in Dalian Wanda's listed film unit

FILE PHOTO: A sign of Alibaba Group is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 3, 2017. REUTERS/Aly Song/File Photo

China’s Dalian Wanda Group is selling a $1.24 billion stake in its listed film unit to a pair of investors led by Alibaba Group Holding Ltd, as the conglomerate looks to bring in strategic partners and raise new funds.

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