Alibaba buys stake in Wanda Film for $750 million - Reflextunes

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    Alibaba buys stake in Wanda Film for $750 million

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    Troubled Chinese conglomerate Wanda announced Monday that e-commerce giant Alibaba has agreed to buy a stake in its cinema division for around $750 million, the latest sell-off by the heavily-indebted group. Wanda Film said in a regulatory filing that Alibaba will buy a 7.66 percent stake for 4.68 billion yuan, and a holding company controlled by the Beijing government will take 5.11 percent for...

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    Henrie Ekemezie is a online viral reporter at Reflextunes and Journalist at The Guardian Newspapers. He established Reflextunes in July 2012 and has been able expand it audience through the use of online media syndication.