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Chinese billionaire sells stake in top soccer club

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Chinese billionaire Wang Jianlin is selling his company's stake in top Spanish soccer club Atletico Madrid.

His company, Dalian Wanda Group, plans to let go of the 17 percent stake it owns in the club.

A statement from the team said "the decision to divest is part of the global strategy of Dalian Wanda Group."

Read more from CNNMoney.

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