Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

IBM Acquires Stake in BOCO Inter-Telecom

National Business Daily, 7/01/10

BOCO Inter-Telecom (600289.SH) has announced that on June 30 IBM's China unit purchased 5.9172 mln shares in BOCO Inter-Telecom from Chinese telecom solutions and security software developer's parent company, BOCO Group, for RMB 50 mln. Based on BOCO Inter-Telecom' 2009 fiscal report, the transaction makes IBM the company's fourth largest shareholder with a 1.05% stake. After the transaction, After transaction, Boco Group's holding in BOCO Inter-Telecom will decrease from 25.02% to 23.97%.

BOCO Inter-Telecom said this marks the first time IBM has acquired a stake in a company, and that the share sale is aimed at introducing a world-class strategic investor, as well as strengthening the company's new product R&D and promoting its applications, solutions and existing products on the international market.

Keywords: telecom 600289.SH BOCO Inter-Telecom IBM strategic investor telecom software

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