New | China’s Wanda denies in talks with UK cinema chain Odeon

Chinese property-to-cinema conglomerate Dalian Wanda Group announced on Tuesday it has no interest in buying British cinema chain Odeon.

A report by The Telegraph over the weekend said Chinese billionaire and Wanda chairman Wang Jianli had taken a front row seat for the £1 billion sale of Odeon, currently owned by private equity firm Terra Firma. The report did not identify the source for the report.

“Wanda has no intention of purchasing Odeon cinema chain,” the Chinese company said in an emailed statement.

“No individual from Wanda Group has ever been in contact with Odeon, nor has any individual or third party organisation been appointed on behalf of the Wanda Group to engage in contact with Odeon regarding any matters related to the acquisition of the cinema chain.”

The cinema and leisure industry is one of the four pillars Wanda intends to build for future growth. It bought US chain AMC three years ago and acquired Australia’s Hoyts earlier this year.