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Tsinghua to buy 40 pct of China's BesTV: source
SHANGHAI (Reuters) - BesTV, China's largest provider of Internet Protocol TV, is selling a 40 percent stake to Tsinghua Tongfang Co Ltd (600100.SS) for 150 million yuan ($21 million), a source familiar with situation said on Thursday.
A BesTV spokesman confirmed that a strategic partnership would be announced later on Thursday but declined to give further details.
BesTV is a Web TV service run jointly by Shanghai Media Group, China's second-largest media group by revenue after state-run China Central Television, and the country's largest fixed-line telecoms company, China Telecom Corp.
BesTV has said it expected to have 2 million viewers by the end of this year, versus around 600,000 nationwide currently. China had 210 million Internet users at the end of 2007, second only to the United States, and is expected to become the world's biggest Web market this year, according to state media.
($1=7.140 Yuan)
(Reporting by Sophie Taylor; Editing by Edmund Klamann)
