SHANGHAI :
Dalian Wanda Dismisses Rumors of Founder's Overseas Flight Ban, Explores Legal Avenues
Tang Shihua
DATE:  Aug 28 2017
/ SOURCE:  Yicai
Dalian Wanda Dismisses Rumors of Founder's Overseas Flight Ban, Explores Legal Avenues Dalian Wanda Dismisses Rumors of Founder's Overseas Flight Ban, Explores Legal Avenues

(Yicai Global) Aug. 28 -- Leading Chinese real estate developer Dalian Wanda Group Co. dismissed internet reports this morning that its billionaire founder, Wang Jianlin, was blocked from leaving the country. The group is currently collecting evidence and will hold relevant media companies legally responsible.

The reports, which appeared on Tencent Holdings Ltd.'s [HK:0700] vastly popular messaging and payment app WeChat, are false and were disseminated with ulterior motives, the company said in a statement. Dalian Wanda has already reported them to government departments and public security services.

The reports alleged that Wang Jianlin and his family were intercepted and detained as they attempted to leave for Britain on a private plane on Aug. 25. They were let go following a few hours of talks but banned from going abroad.

Wanda Hotel Development Co. [HKG:0169], Wanda Group's Hong Kong-listed arm, saw its share price fall more than 10% on Monday morning after the rumors surfaced. The decline narrowed slightly to close down 8.09 percent.

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Keywords:   Wanda,Speculation,Travel Restrictions