Aug 18, 2009
China's Ministry of Industry and Information Technology (MIIT) announced today that it will release a draft of its "Management Regulations for the Security and Oversight of Communications Networks," and will incorporate feedback that it receives before September 4 prior to a subsequent official release and promulgation of the final regulations.
Chinese mobile phone solutions provider TechFaith (Nasdaq: CNTF) has signed a non-binding letter of intent to acquire 100% of Beijing-based smartphone manufacturer Qigi Future Technology in a stock-plus-cash transaction valued at USD 12.5 mln, USD 0.5 mln of which is to be paid in cash, the rest of which is to be paid in over 65.93 mln ordinary shares of TechFaith (one publicly traded ADS is equal to 15 ordinary shares).
The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.
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