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China’s troubled Wanda sells stake in Atletico Madrid

Madrid (AFP) – Troubled Chinese conglomerate Wanda has decided to sell its 17 percent stake in Spain’s Atletico Madrid to Israeli group Quantum Pacific but will remain a sponsor, the football club announced Wednesday. “The decision to divest is part of the global strategy of Dalian Wanda Group,” the top-flight club where French star Antoine Griezmann plays said in a statement, without giving the amount of the sale.
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