Fosun Increases Focus Media Stake to 24%

Oriental Morning Post, 2/09/09

According to documents filed with the US Securities and Exchange Commission, between November 17, 2008 to February 5, 2009, Fosun International Limited (0656.HK) purchased a total of 31.4 mln American Depository Shares (ADS) in digital media group Focus Media Holdings (Nasdaq: FMCN) for a total of USD 262.14 mln, or 24.26% of Focus' issued shares.

Previously, Fosun had reported that by January 30, it had purchased a total of 22.96% of Focus' shares, which after the completion of a merger between Focus and Chinese Internet portal Sina, will give Fosun a 10.5% stake in the portal, as well as making it the largest shareholder of both Focus and Sina.

Editor's Note: For more background on this topic, please see" Fosun Becomes Largest Shareholder of Sina, Focus Media

Keywords: 0656.HK FMCN Focus Media Fosun Internet portal Sina investment out-of-home display online advertising

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