Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

Fosun Becomes Largest Shareholder of Sina, Focus Media

Modern Express, 2/02/09

Fosun International (0656.HK) has announced the purchase of over 29.74 mln American Depository Shares from Focus Media (Nasdaq: FMCN) at a total price of approximately USD 250 mln (approx. HKD 1.95 bln). The purchase brings Fosun International's stake in Focus Media to 22.96% and, through merger agreements, also gives the company a 10.5% share in Sina (Nasdaq: SINA), making Fosun International the largest shareholder of both companies.

Guo Guangchang, chairman of Fosun International, previously stated that purchases made by the company are conventional investments, and that he has no plans to join the board of directors at Sina.

Keywords: Guo Guangchang 0656.HK FMCN Focus Media Fosun Internet Sina investment out-of-home display

Feedback

Please note, all fields are required.
None of your personal information will be shared with third parties.

SendingSending

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 Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports