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35.com to Acquire 60% Stake in Mobile E-Commerce Firm

Netease Finance, 1/17/11

Chinese internet company Xiamen 35.com Technology (300051.SZ) recently announced that it will acquire a 60% stake in mobile e-commerce service provider Beijing Zhongya Hulian Technology Development. The value of the transaction will be between RMB 59 mln and RMB 125 mln, ultimately depending on assessments of the profitability of the company. 35.com has stated that once the acquisition is complete, it will begin the process of grafting Zhongya Hulian's mobile e-commerce platform to its existing high-end products and services, such as instant messaging software 35EQ, and its web site development services.

Keywords: Zhongya Hulian 35.com Internet m-commerce M&A 300051.SZ wireless

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