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Article: JIN JIANG HOTELS DENIES IN TALKS WITH SAUDI PRINCE

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AsiaInfo Services
Article date:
September 3, 2007
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AsiaInfo Services
09-03-2007
Jin Jiang Hotels Denies in Talks with Saudi Prince

SHANGHAI, Sep 03, 2007 (SinoCast via COMTEX) -- Shanghai Jin Jiang International Hotels (Group) Co., Ltd. (SEHK: 2006), China's largest hotel operator by market value, denied the saying that it was in close talks with Prince Alwaleed Bin Talal of Saudi Arabia to sell a 20% stake.

Sources said in order to catch the great business opportunity brought by the oncoming Beijing 2008 Olympic Games, Prince Alwaleed Bin Talal will take a 20% stake in Shanghai Jin Jiang International Hotels Group.

Driven by the news, shares of the Hong Kong-traded company embraced a sharp growth of 5.8% on August ...

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