China Tech Roundup - February 9, 2007
China Internet and Technology Roundup provided by Chinamemes.com:
Shanda to Sell 4 mln Sina Corp Shares for 129.6 mln
China's online game operator Shanda Interactive Entertainment Ltd. said it agreed to sell about 4 million shares of online media company Sina Corp. to Citigroup Global Markets Inc. for $129.6 million. Following the sale, Shanda will continue to hold 2,118,278 SINA shares, representing approximately 3.9% of the issued and outstanding share capital of SINA.
An Open Letter to Google Founders--- to save Google in China and save Internet in China
By Venture Capitalist Isaac Mao: "I'm writing you the short letter on behalf of many Internet users in China to have some suggestions to resolve the current dilemma for Google in China ..."
Chinese Cozy Up to E-Commerce
China Market Research Group's Shaun Rein says a new breed of younger, more affluent consumers will drive e-commerce on the mainland.
Huawei Sales Hit $11B
Chinese Telecom Equipment Supplier Huawei announced that its global contract sales for 2006 reached USD11 billion, 65% of which comes from overseas market. 2006 global contract sales representing a year-over-year growth rate of over 34%. The increase is a result of continued market growth in the product areas of mobile network, next generation network ("NGN"), optical networks, data communications, software and applications and IP.
IBM sells 3.5% stake in Lenovo
Following an almost 10% run-up in Lenovo’s share price over the past few days, Citigroup executed a private placement on behalf of IBM on Monday afternoon and evening. The 300 million shares sold in the transaction amount to a 3.5% stake.
Following the sale, IBM – which sold its personal computer division to Lenovo in April 2005 in return for cash and a 15% stake in Lenovo – faces a 90-day lockup.
China Businesscast: Interview with James McGregor
Interview with James McGregor, author of the book "One Billion Customers, Lessons from the Front Lines of Doing Business in China". Topic: China's media industry and failures of foreign web companies.
China Mobile Wants to be a Big Face in the Global Market
China Mobile may already be the world's biggest wireless company in terms of both subscribers and market capitalisation, but the cash-flush company has not been shy about its plan to look for opportunities abroad to boost its earnings and scale.
To name a few, the Chinese company in the last two years has been linked to CSL, a Hong Kong-based mobile operator, China Resources Mobile, another Hong Kong firm, Pakistan Telecom, Reliance Telecom of India, Millicom, the emerging market mobile company.
Internet Boom in China Is Built on Virtual Fun
New York Times article on China's hottest Internet company Tencent which reaches more than 100 million users, or nearly 80 percent of the market.
Chinamemes.com - Observing China's Digital Revolution