Telstra Buys China's SouFun
From iTnews:"Australian telecoms giant Telstra has paid US$254 million to buy a controlling stake in Chinese website SouFun.com, the company announced today.
SouFun is a news and information portal and business directory aimed at China's real estate sector and related markets. An approximate transliteration of the Chinese words for 'house search', SouFun has tapped into a booming real estate sector and a growing home improvement market in the nation of more than 1.2 billion people."
posted by Johannes @ 4:45 AM
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That was a huge business, they paid a lot of money on that transaction.
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