Tencent Tech, 2/06/10
A source inside Beijing-based online game developer and operator Kylin confirmed recent rumors that Chinese internet company Sina (Nasdaq: SINA) is planning a major investment in Kylin.
At the annual Kylin management meeting last week, Kylin CEO Shang Jin revealed to management that Sina had plans to invest in the company, though he cautioned that the companies were still in talks and no final agreement had yet been reached.
The source inside Kylin revealed that a number of other organizations had also expressed interest in investing, but that Kylin was currently inclining towards Sina. The source dismissed the possibility that Sina might buy Kylin outright, and said that Kylin will retain a controlling share even after the investment.
Sina issued no response to reports of its investment plans.