21st Century Business Herald, 10/18/11
An industry source has revealed that Chinese internet firm Tencent (0700.HK) recently purchased a stake in Chinese SNS Kaixin001 with the intention of becoming a major shareholder.
Kaixin001 founder and CEO Cheng Binghao was unavailable for comment. When reached by telephone, Kaixin001 VP Guo Wei said that the move "wasn't exactly an acquisition, but to describe it as such also isn't without reason."
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.