Great Wall Finds Buyer for Broadband Subsidiary

Infocast News, 6/25/10

Great Wall Technology (0074.HK) has announced that it has agreed, in cooperation with its subsidiaries Great Wall Computer (000066.SZ) and Shenzhen Kaifa Technology (000021.SZ), to sell the total 50% stake they collectively hold in Great Wall Broadband Network Service to Chengdu Dr. Peng Telecom & Media Group (600804.SH) for RMB 324 mln, with proceeds from the sale to be put towards the group's ordinary operating capital and to support development of the group's core businesses.

Chengdu Dr. Peng is a China-based telecom value-added service provider, with businesses including broadband internet access provision and internet data center operation.

Editor's Note: For more background on this topic, please see "Great Wall Computer to Sell Broadband Subsidiary" MD 4/16/10 issue.

Keywords: M&A 600804.SH hardware telecom Great Wall Broadband Dr. Peng Great Wall Computer Great Wall Technology Kaifa 000021.SZ 000066.SZ 0074.HK

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