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Fosun Increases Focus Media Stake to 24%

Oriental Morning Post, 2/09/09

According to documents filed with the US Securities and Exchange Commission, between November 17, 2008 to February 5, 2009, Fosun International Limited (0656.HK) purchased a total of 31.4 mln American Depository Shares (ADS) in digital media group Focus Media Holdings (Nasdaq: FMCN) for a total of USD 262.14 mln, or 24.26% of Focus' issued shares.

Previously, Fosun had reported that by January 30, it had purchased a total of 22.96% of Focus' shares, which after the completion of a merger between Focus and Chinese Internet portal Sina, will give Fosun a 10.5% stake in the portal, as well as making it the largest shareholder of both Focus and Sina.

Editor's Note: For more background on this topic, please see" Fosun Becomes Largest Shareholder of Sina, Focus Media

Keywords: 0656.HK FMCN Focus Media Fosun Internet portal Sina investment out-of-home display online advertising

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