Arab Today, arab today chinas wanda to buy more sports firms
Last Updated : GMT 13:45:24
Arab Today, arab today
Arab Today, arab today

China's Wanda 'to buy more sports firms'

Arab Today, arab today

Arab Today, arab today China's Wanda 'to buy more sports firms'

Chairman of Wanda Group Wang Jianlin
Shanghai - AFP

Chinese property and entertainment giant Wanda Group, which formally took a 20 percent stake in Spanish football club Atletico Madrid in April, will buy at least three more sports companies this year, its chairman said.

"Within this year, Wanda will still buy at least three sports companies," Xinhua quoted chairman Wang Jianlin as saying. "Upon the completion of these mergers and acquisitions, Wanda is going to be the world number one in the sports industry."

As well as the 45 million euro (now $50 million) Atletico share, Wanda this year paid 1.05 billion euros for Swiss sports marketing group Infront, which is headed by the nephew of outgoing FIFA president Sepp Blatter and holds some broadcasting rights to the World Cup.

Wanda is looking to increase its influence in the global sports business, as Beijing bids for the 2022 Winter Olympics and rumours swirl that China could seek to host the 2026 football World Cup.

Wang's phrasing suggests that the "at least three" deals do not include the Atletico or Infront acquisitions.

The billionaire, a diehard football fan, did not reveal specific targets, but said they should have activities in China and worldwide sports marketing or ownership rights, the report late Tuesday said.

Wang also claimed that "there will soon be good news announced about Chinese football", without giving any details, Xinhua added.

Wanda Group could not be reached immediately for comment.

Bloomberg News ranks Wang as China's richest man and the ninth-wealthiest in the world, with a net worth of $42.1 billion.

His Beijing-based conglomerate, which has interests in hotels, entertainment and retail, last year saw a 30 percent jump in revenue to 242.5 billion yuan.

It bought US cinema chain AMC Entertainment Holdings in 2012 and has moved to branch out into film production and theme parks.

Its listed arm, Dalian Wanda Commercial Properties Co., raised $3.7 billion in an initial public offering in Hong Kong in December.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinas wanda to buy more sports firms Arab Today, arab today chinas wanda to buy more sports firms

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinas wanda to buy more sports firms Arab Today, arab today chinas wanda to buy more sports firms

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday