Rumor: Telstra to Acquire Pacific Online

Sohu IT, 7/31/13

According to industry insiders, Australian telecom operator Telstra will soon announce the acquisition of Chinese vertical portal operator Pacific Online (0543.HK) for USD 800 mln. The acquisition was led by Chen Xiaowei, CEO of Telstra's China operations, and may be used to facilitate a back-door listing for the company's automobile website Autohome.

Pacific Online's portal websites include: PConline, PCauto, PCGames, PCLady, PCBaby, and PCHouse.

Editor's Note: Pacific Online has released an official announcement denying the rumor. For more information on this topic, please see "Rumor: Autohome to IPO in Q2 2012," MD 2/23/12 issue.

Keywords: Chen Xiaowei Internet Pacific Online Telstra vertical portal 0543.HK M&A Autohome

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