Alibaba and Chinese Government Acquire Strategic Stake in World’s Largest Cinema Operator

Posted on 02/08/2018


Chinese conglomerate Dalian Wanda Group Co Ltd sold a 12.77% stake in its Shenzhen-listed Wanda Film Holdings unit to e-commerce giant Alibaba and state-owned Cultural Investment Holdings Limited (CIH) for 7.8 billion CNY (US$ 1.24 billion), bringing on the pair as the second and third largest shareholders in the world’s largest cinema operator. CIH, also […]