|
|
Article: FOSUN MAKES PROFIT ON BUYING FOCUS MEDIA SHARES
- Article from:
- AsiaInfo Services
- Article date:
- September 29, 2009
CopyrightProvided by ProQuest LLC. (Hide copyright information)
|
AsiaInfo Services
09-29-2009
Fosun Makes Profit on Buying Focus Media Shares
SHANGHAI, Sep 29, 2009 (SinoCast Daily Business Beat via COMTEX) -- Although the proposed merger of Focus Media Holding Ltd. (Nasdaq: FMCN) by SINA Corporation (Nasdaq: SINA) aborted, the Wall Street is not pessimistic about the prospect of the two companies.
Fosun International Ltd. (SEHK: 0656), which purchased Focus shares for seven times during the period from November 2008 to March 25, 2009, also draws attention of investors.
Totally, Fosun International spent USD 301 million buying 37.101977 million shares of Focus during the period, accounting for about 28.65% of the out-of-home advertising network operator's ...