Wanda Group respond to West Brom takeover speculation
Mega-rich Chinese conglomerate Wanda Group have responded to speculation they're interested in taking over West Brom.
The multinational corporation, which counts China's richest man Wang Jianlin as its chairman, has not ruled out a purchase in the future, but neither has it confirmed that it is in talks with Albion chairman Jeremy Peace.
Responding to a Baggies fan on Twitter, the group said: "Wanda is always on the hunt for more sports and entertainment deals. We'll let you know if we decide to take on West Brom."
Peace is currently negotiating the sale of the club with an interested party from China, and it's believed a deal is edging closer.
There has been speculation since last summer that Wang Jianlin, who owns 20 per cent of Spanish club Atletico Madrid and was worth $28.7 billion last year, is the man interested.
But there are plenty of Chinese companies who are looking to expand their portfolio and purchase football teams because the Chinese government is actively encouraging their businessmen to do just that.
This summer both Aston Villa and Wolves have already been taken over by businesses from the Far East.
