Chinese conglomerate Dalian Wanda Group has announced to sell a combined 12.77% stake in its listed film business Wanda Film for RMB7.8 billion (US$1.24 billion) to Alibaba and a state-owned investment group, according to its security filing. To reduce debts, Wanda has been selling onshore and offshore assets. Last week, Wanda just sold 14% of its property unit Dalian Wanda Commercial Properties Co. for approximately RMB34 billion (US$5.4 billion) to Tencent Holdings Ltd., Suning Holdings Group, JD.com Inc. and Chinese property developer …

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