China's Wanda to sell contentious Madrid landmark: source
World BusinessJul 20, 2016
MADRID -- China's property and entertainment giant Wanda has agreed to sell a historic Madrid skyscraper, a source close to negotiations said Wednesday, after feuding with city authorities over plans to renovate the landmark.Wanda acquired the 25-story Edificio Espana, completed in the 1950s under the dictatorship of General Francisco Franco, in June 2014 for 265 million euros (now $292 million) and wanted to turn it into a hotel and shopping centre.The group had reportedly planned to knock down