Just Another Brick In The Wall.

Reuters reported that China’s biggest commercial real estate developer is diversifying into e-commerce.

Dalian Wanda has taken a controlling stake in 99BillCorp, a business that, in broad terms, is similar to PayPal.

We think this is smart move, a useful hedge and, given that AliBaba’s IPO was the biggest of all time, perhaps the shape of things to come?

Monticello LLP