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Wanda Group chairman Wang Jianlin at a dialogue with TCL chairman Li Dongsheng at Sofitel Wanda on March 11, 2015 in Beijing, China.
Chinese conglomerate Dalian Wanda Group said in a statement to Reuters on Monday that a
report claiming its billionaire chairman, Wang Jianlin, was prevented from leaving the country was groundless and it planned to take legal action.
Taiwanese news site Bowen Press had reported on Sunday that Wang was stopped from leaving Tianjin airport on Friday with his family and had been detained for a few hours.
Shares of Wang’s Wanda Hotel Development were down more than 6 percent on Monday. Dalian Wanda’s bonds were down by as much as 2 points but bounced back.