China Mobile parent paid HK$1.28 bln for Phoenix stake – MarketWatch
China Mobile Ltd. said Monday its parent, China Mobile Communications Corp., paid HK$1.28 billion to Rupert Murdoch‘s STAR Group Ltd. for a 19.9% stake in Hong Kong-listed Phoenix Satellite Television Holdings Ltd. (8002.HK).
China Mobile, Phoenix,and STAR Group announced the deal late Thursday, but didn’t say then how much China Mobile paid for the stake.
A spokeswoman for China Mobile, who declined to be named, said Monday the price translated to HK$1.30 a share in Phoenix Satellite. [Full Text]