The world's largest job search Web site Monster.com buys Stake in ChinaHR.com

From Forbes.com: Monster Buys Stake in ChinaHR.com

"Monster Worldwide Inc., which operates the world's largest job search Web site, said Wednesday that it acquired a 40 percent stake in ChinaHR.com Holdings Ltd., the owner of online recreuitment site ChinaHR.com, for $50 million."

"As a result of the transaction, Monster Worldwide will initially occupy three of seven seats on ChinaHR's board. Monster also will have certain rights and obligations to purchase a stake of 51 percent or more in ChinaHR in the event of an initial public offering or in three years, whichever comes first." Read more

China Net Investor: ChinaHR/Monster face competition from China's No. 1 online recruitment company 51Job Inc.