Apr 09, 2014
Chinese media company Wasu Media Holding (000156.SZ) announced today that Yunxi Investment, an investment firm controlled by Jack Ma, chairman of e-commerce conglomerate Alibaba Group, and Shi Yuzhu, chairman of game developer Giant Interactive (NYSE: GA), has invested over RMB 6.53 bln in cash to acquire 20% of Wasu through the purchase of more than 286.67 mln newly issued shares.
Cao Shumin, director of the China Academy of Telecommunication Research (CATR), a department of China's Ministry of Industry and Information Technology (MIIT), has stated that the MIIT plans to focus on the implementation of privately-owned (non state-owned) fixed-line broadband network access trials in H2 2014.
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