Fiberhome Becomes Largest Shareholder of Yangtze Communication

Shenzhen Stock Exchange, 12/31/12

On December 28, optoelectronic storage products manufacturer Yangtze Communication Industry Group (600345.SH) announced that the company's two largest shareholders, Wuhan Economic Development Group and Wuhan Hi-Tech Holding Group, have drafted a plan to transfer the two companies' respective 18.08% and 10.55% stakes in Yangtze Communication to communications equipment and network solutions provider Fiberhome Telecommunication Technologies (600498.SH), a subsidiary of Wuhan Research Institute of Posts and Telecommunications (WRI). Upon completion of the transaction, Fiberhome will hold a 28.63% stake in Yangtze Communication, making it the company's largest shareholder. Wuhan Economic Development Group will retain a 10.61% stake in Yangtze Communication, while Wuhan Hi-Tech Holding Group will retain a 6.20% stake in the company.

Editor's Note: For more background on this topic, please see "Fiberhome, Yangtze Communication Sign Strategic Cooperation" MD 2/13/12 issue.

Keywords: Wuhan Economic Development Group storage telecom Fiberhome 600498.SH Wuhan Hi-Tech Holding Wuhan Research Institute of Posts and Telecommunications Yangtze Communication 600345.SH M&A

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