TOM obtains 19.5% of Sina.com stake from Shanda
From ChinaKnowledge:
"TOM Outdoor Media Group (OMG) will buy a 19.5% stake in Sina.com from Shanda Interactive Entertainment Ltd., according to Xiaoxiang Morning Post on Monday this week.
TOM will pay US$370 million at US$35 each share for the stake. Last year, the 19.5% equity of Sina.com cost Shanda around US$200 million. Shanda stands to earn US$170 million or so from the deal."
posted by Johannes @ 7:08 AM
2 comments
2 Comments:
I blogged about Google's follow on stock offering in the next few weeks. There is a lot of speculation that the proceeds from that offering will be used to buy substantial stakes in other Chinese internet companies, especially since Eric Schmidt recently claimed that the Chinese internet will outstrip the US in terms of advertising dollars in the next ten years. What companies do you see as the next most likely targets?
Hi marty, I doubt that the chinese government would approve a takeover of one of China's leading portals (Sina,Sohu,NetEase) or of its leading search site baidu.com by a western company.
My guess is, that Google will use the money to buy more of their famous free lunches and dinners for their employees. :-)
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