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Article: SINA BECOMES FARTHER AWAY FROM FOCUS MEDIA

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AsiaInfo Services
Article date:
September 24, 2009
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AsiaInfo Services
09-24-2009
Sina Becomes Farther Away from Focus Media

BEIJING, Sep 24, 2009 (SinoCast Daily Business Beat via COMTEX) -- The combination between Chinese Internet conglomerate Sina Corporation (NASDAQ: SINA) and digital advertising agency Focus Media Holding Ltd. (NASDAQ: FMCN) might abort in line with latter's latest share placement plan, according to insiders.

Focus Media announced on September 23, 2009 that it was set to sell 75 million additional shares to its chairman Jason Jiang for USD 142 million. The chairman will enlarge its holdings from 10% to 19.34% after the deal, while the company's biggest shareholder Fosun International Ltd. (SEHK: 0656) is estimated to saw ...

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