wang jianlin

FB Roundup: Wanda Group, Danone, and Hobby Lobby

July 12, 2017

Billionaire Wang Jianlin to sell hotels and tourism properties; Danone sheds US dairy business to competitor; and Hobby Lobby fined for smuggling Iraqi artefacts

Billionaire Wang Jianlin to sell hotels, tourism properties

China’s second wealthiest man will sell some of his multi-billion dollar property portfolio to a competitor, as a means of paying down debt.

Wanda Group, led by billionaire Wang Jianlin, will sell 76 hotels and a 91% share in 13 tourism properties to Sunac Holdings for ¥63.17 billion ($9.29 billion).

Family Business Roundup: Hutchinson Whampoa and Dalian Wanda

January 23, 2015

Li Ka-shing's Hutchison to buy Telefonica UK for £10.25 billion and China’s richest man snaps up stake in Athletico Madrid

Li Ka-shing's Hutchison to buy Telefonica UK for £10.25 billion

Hong Kong-based conglomerate Hutchison Whampoa, controlled by billionaire Li Ka-shing, is in exclusive negotiations tobuy Telefonica’s British mobile division O2 for £10.25 billion (€13.6 billion).

The conglomerate already operates the Three Mobile network in Britain. The combination of Three and O2 will create the largest mobile operator in Britain, with as many as 32 million customers.