China’s Wanda buys sports group Infront for 1.05 billion euros

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China’s Wanda Group has agreed to buy Infront—the Swiss sports marketing group headed by Sepp Blatter’s nephew and which holds some broadcasting rights to the World Cup—for 1.05 billion euros ($1.2 billion), the two firms said on Tuesday. The Chinese property and entertainment conglomerate is looking to increase its influence in the global sports business, as Beijing bids for the 2022 Winter Olympics while rumors swirl that it could seek to host the 2026 football World Cup.

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