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Wanda Says SUNAC Has No Reason to Ask for Shr Buyback of RMB9.5B
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In response to reports that SUNAC (01918.HK) filed an arbitration against Wanda Group with the China International Economic and Trade Arbitration Commission (CIETAC), requesting Wanda Group to pay RMB9.5 billion for share repurchase, Wanda's insiders said that SUNAC has no relevant contractual basis for requesting Wanda to repurchase its shares, and hence the reason for requesting the share repurchase is not valid, 21st Century Business Herald quoted sources as saying. It is understood that TENCENT (00700.HK), as the main initiator, joined hands with Suning Commerce, SUNAC and JD-SW (09618.HK) to buy a share in Wanda Commercial Management Group with RMB34 billion on 29 January 2018, acquiring about 14% of the shares held by the investors introduced at the time of the delisting of Wanda Commercial Properties Hong Kong's H shares. AAStocks Financial News |
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