DataRoom AM: Wanda's cash splash

China's Wanda Group swoops in on prime Gold Coast real estate, pledging to spend $1.7bn investing in Australian property, while the plot thickens at Australand.

China’s richest man has made a major foray into Australia, with a property buy on the Gold Coast sealed amid a pledge to spend at least $1.7 billion in expanding his empire Down Under.

Elsewhere, Frasers Centrepoint meets further resistance in its push for full control of Australand, Telstra puts its war chest to work and State Grid Corporation of China mulls the best way forward on a bid for poles and wires assets in NSW.

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