Update: Wasu in Talks with Investors

Sina Tech, 3/03/14

In response to reports that the company has received investment from Chinese e-commerce conglomerate Alibaba Group, Chinese media company Wasu Media Holding (000156.SZ) has issued a statement, revealing that the company halted trading of its shares yesterday to make revisions to its planned 2014 non-public share issuance plan. The company is considering revisions as to how the raised funds will be used, and to which strategic investors the shares will be offered.

The plan is still in the negotiation phase, with Wasu waiting until all aspects of the deal are finalized before issuing an official announcement.

Editor's Note: For more background on this topic, please see "Rumor: Alibaba to Purchase 20% Stake in Wasu Media" MD 3/03/14 issue.

Keywords: e-commerce investment television Wasu Alibaba Group 000156.SZ Wasu Media Holding

Feedback

Sending

Disclaimer

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.

Marbridge Daily