Giant Chinese retailer Suning Commerce Group Co Ltd, the owner of Italian soccer club Inter Milan, saw its shares tumble yesterday after China
SHANGHAI: China’s curbs on property giant Dalian Wanda Group’s overseas deals are spreading a chill at home and abroad, raising fears that a campaign to root out risky overseas investments could draw in rival Chinese conglomerates and even Hollywood studios.
Giant Chinese retailer Suning Commerce Group Co Ltd, the owner of Italian soccer club Inter Milan, saw its shares tumble yesterday after China’s state broadcaster cited the firm’s 270 million-euro deal for the club last year on a show about “irrational” investment overseas. Wanda-owned cinema chain AMC Entertainment Holdings Inc and Hollywood studio Legendary Entertainment said late on Tuesday their businesses were insulated from curbs imposed by Chinese regulators on overseas spending by their parent. AMC’s stock had slid on Monday on fears over the crackdown.
Limited time offer:
Just RM5 per month.
