NHN Divests 55% Stake in Ourgame
17173.com, 10/29/10
Korean gaming company NHN recently announced it will sell its 55% stake in Chinese online gaming company Ourgame to Beijing-based Wei De Wo Fu Investment Advisors for an unknown sum.
NHN has decided to sell Ourgame due to poor performance, as the company suffered consecutive losses starting in 2006.
NHN will shift China operations for its games to domestic operators such as Shanda (Nasdaq: SNDA) and Tencent (0700.HK).
Editor's Note: For more background on this topic, please see "Searainbow to Sell Off Ourgame Stake" MD 8/05/10 issue.
Keywords: Wei De Wo Fu divest online gaming Ourgame Internet investment Tencent SNDA 0700.HK NHN loss
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