|
BIZCHINA> Top Biz News
![]() |
|
Fosun increases stake in Focus Media before Sina acquisition
By Wang Xing (chinadaily.com.cn)
Updated: 2008-12-25 12:36 Chinese investment company Fosun International has announced that it has acquired a 13.3 percent stake in China's largest outdoor advertising company Focus Media that had been recently acquired by Sina Corp.
Fosun said in a statement that it spent $150.11 million on 17,267,078 American depositary shares on the open-market between Nov 17 and Dec 22, making it Focus Media's largest shareholder. The announcement came two days after Focus Media said on Dec 22 that China's largest portal website Sina Corp had agreed to acquire its LCD display network, poster frame network and in-store network through the issue of 47 million new ordinary shares. Fosun's latest move will give the company a greater say in Sina, which will become China's largest advertising firm after it acquires Focus Media. The new company will be controlled by the three largest shareholders, each of which owns 6 to 8 percent of the company. Fosun International is involved in pharmaceuticals, property development, steel, mining, retail and financial services and investments. The company is based in Shanghai and listed in the Hong Kong Stock Exchange. (For more biz stories, please visit Industries)
|
||||
松溪县| 阿拉善右旗| 赫章县| 正蓝旗| 沁源县| 福海县| 彩票| 扎鲁特旗| 武川县| 区。| 瑞丽市| 连平县| 芜湖县| 巴马| 四会市| 桦南县| 昂仁县| 临朐县| 阿合奇县| 涟源市| 昔阳县| 扶沟县| 牙克石市| 蓬安县| 平遥县| 宾阳县| 金寨县| 和平区| 竹溪县| 麦盖提县| 崇仁县| 独山县| 北安市| 博爱县| 洱源县| 陈巴尔虎旗| 攀枝花市| 新沂市| 东平县| 鹤庆县| 西青区|