Apr 09, 2014
Chinese media company Wasu Media Holding (000156.SZ) announced today that Yunxi Investment, an investment firm controlled by Jack Ma, chairman of e-commerce conglomerate Alibaba Group, and Shi Yuzhu, chairman of game developer Giant Interactive (NYSE: GA), has invested over RMB 6.53 bln in cash to acquire 20% of Wasu through the purchase of more than 286.67 mln newly issued shares.
Cao Shumin, director of the China Academy of Telecommunication Research (CATR), a department of China's Ministry of Industry and Information Technology (MIIT), has stated that the MIIT plans to focus on the implementation of privately-owned (non state-owned) fixed-line broadband network access trials in H2 2014.
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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