Feb 24, 2014
According to sources close to the matter, Chen Tianqiao, chairman of Chinese online media and game operator Shanda Interactive, plans to sell the company's gaming, online video, cloud computing, online literature, and Android app store (Goapk Market) business units to Chinese e-commerce conglomerate Alibaba Group.
The Supreme People's Court of China has issued its verdict in the case of Chinese internet and mobile services firm Tencent's (0700.HK) unfair competition suit filed against rival internet company Qihoo 360 (NYSE: QIHU), dismissing Qihoo 360's appeal and upholding the ruling made by the High People's Court of Guangdong Province requiring Qihoo 360 to pay RMB 5 mln in damages to Tencent.
An industry source has revealed that Chinese home appliance and consumer electronics retailer Gome's (0493.HK) Gome.com B2C e-commerce site is currently in talks with Beijing-based browser game developer and operator Gamewave Interactive to hand over operation of Gome.com's online and mobile gaming business to Gamewave.
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