Chinese Portal Shanda Divesting $99.1 Million Stake in Sina
By Rafat Ali - Mon 06 Nov 2006 10:20 PM PST
Chinese online gaming and interactive entertainment firm Shanda is divesting about $99.1 million worth of stake in the other Chinese online portal firm Sina....it is selling about 3.7 million shares it holds to Citigroup Global Markets. Following the sale, Shanda will still continue to hold 6.1 million Sina shares, representing approximately 11.4% of the issued and outstanding share capital of Sina.
Some more info in the release here.
Posted in: Companies, Portals, Countries, Asia, China, VC+M&A
