HONG KONG -- Chinese conglomerate Dalian Wanda Group said it would take legal action against an online media outlet over an article that claimed the group was running out of cash amid an official crackdown on capital outflows and corporate debt.
In a statement issued on Thursday, Wanda refuted eight allegations made in the article including the claim that its 1 trillion yuan ($151 billion) assets had shrunk by more than a half, and it had connections with corrupt officials.
