China Cable says to have new largest shareholder

Reuters quoted Chinese source on last Friday that Faithful Union Limited and its director, Hong-Tao Li, will become the new single largest shareholder in the company.

Washington Post used this story on Jan. 2nd. According to the story, China-based cable TV carrier China Cable & Communication Inc. said its management had “recently become aware” that its largest shareholder, Best Fortune Capital Limited, had entered into an agreement to transfer 45.5 percent of the company’s stock to Faithful Union.

“As a result of this transaction, FUL (Faithful Union Limited) will become the single largest shareholder,” China Cable said in the SEC filing.

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