Wanda Weighs Selling Payments Permit for About $141 Million [BNN Bloomberg (Canada)]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: BNN Bloomberg
conglomerate tries to shore up its liquidity, people familiar with the matter said. Wanda has been in discussions to sell its digital payments license for about 1 billion yuan ($141 million), though some prospective buyers said the price could be lower based on negotiations, the people said, requesting not to be named because the matter is private. The discussions are preliminary and could be subject to change. Representatives of Wanda and ByteDance didn't respond to requests for comment. Billionaire Wang Jianlin's Wanda has become the latest source of angst in China's credit market. The company is struggling to avert a liquidity crunch, as it may have to repay investors about 30 billion yuan if it fails to list its mall operation this year. The mall unit's initial public offering application lapsed for a third time in April. The group is also downsizing some business units, cutting staff, and mulling the sale of many as 20 shopping malls in China. It's in talks with major C
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