(Reuters) – China’s Dalian Wanda Group has started negotiations on a proposal that would allow the conglomerate to avoid repaying about 30 billion yuan ($4.11 billion) to investors in its shopping mall business if the unit fails to complete its initial public offering this year, Bloomberg News reported on Thursday.
The Chinese conglomerate recently told investors that an IPO of the mall unit will likely take place next year, Bloomberg reported, people familiar with the matter. ($1 = 7.3067 yuan)
(This story has been refiled to fix a typo in the headline)
(Reporting by Urvi Dugar in Bengaluru; Editing by Savio D’Souza)
