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BroadWebAsia Angles for 60% Stake in Linktone

Sina Tech, 1/29/08

Chinese online entertainment network BroadWebAsia has revealed a proposal to purchase a stake of over 60% in wireless value-added service provider Linktone (Nasdaq: LTON). Under the proposal, BroadWebAsia would make a tender offer for approximately 25% of Linktone's outstanding shares - 6 mln existing American Depositary Shares (ADSs) at a price of USD 4.18 each - and would also commit to purchasing USD 10 mln in ADSs on the open market.

The proposal challenges an earlier offer from Indonesian media firm PT Media Nusantara Citra, which agreed to acquire at least 51% of Linktone shares at USD 3.80 per ADS.

Keywords: M&A BroadWebAsia WVAS SP ADS Linktone LTON media firm Media Nusantara Citra wireless


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