Bloomberg: Shanda’s new Sina stake alters market

From Bloomberg, via Taipei Times:

Shanda Interactive Entertainment Ltd’s (‰∏äʵ∑Áõõ§߉∫íÂãï®õÊ®Ç) acquisition of 19.5 percent of Corp (Êñ∞ʵ™), China’s No.1 Internet portal, may spur consolidation in the industry, analysts in China and Hong Kong said.

Shanda, an online games developer run by Shanghai billionaire Chen Tianqiao (Èô≥§©Ê©ã), disclosed on Feb. 18 that it acquired control of Sina Corp after securing a one-fifth stake in the Chinese Internet search engine by buying shares on the open market. Both companies are listed on the US’ NASDAQ market.

February 21, 2005 9:05 PM
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