Analysts: Wanda on track to restructure business

Wanda Group Co shelved a $5.6 billion reorganization of its entertainment assets, but analysts on Tuesday said the company is still on the right track of restructuring its business to be an "asset-light" model.

Wanda Cinema Line Co said in a statement on Monday it had suspended a previously announced major asset restructuring, saying the plan was premature and that market conditions had changed.

In May, Wanda Cinema Line said it would buy Legendary Entertainment and Chinese film-making assets from the parent group for 37.2 billion yuan ($5.6 billion).