Wanda denies Intime takeover report

Major real estate developer Dalian Wanda Group Co issued a statement on its website Thursday denying a report about a plan to take over Hong Kong-listed Intime Department Store for 8.2 billion yuan ($1.33 billion), as it prepares for back-door listing in Hong Kong.

"Wanda Group currently has no plan to acquire Intime Department Store," said Liu Zhaohui, an executive in charge of the group's investment management.