July 18, 2018 / 12:58 PM / a month ago

REFILE-BRIEF-Focus Media Information Technology Brings In Alibaba As Strategic Investor

(Adds bullet points)

July 18 (Reuters) - Focus Media Information Technology Co Ltd:

* SAYS SHAREHOLDERS SIGN AGREEMENT TO SELL 774.4 MILLION SHARES, OR 5.28 PERCENT STAKE IN THE COMPANY, TO ALIBABA FOR 7.7 BILLION YUAN ($1.15 billion)

* SAYS ALIBABA’S UNIT ALIBABA INVESTMENT TO INVEST $511.1 MLN IN COMPANY OWNER’S FIRM MEDIA MANAGEMENT HOLDING LTD

* SAYS ALIBABA INVESTMENT AND NEW RETAIL SIGN AGREEMENT TO BUY 2.71 PCT STAKE IN THE COMPANY FOR $594 MLN

* SAYS ALIBABA WILL BECOME COMPANY’S STRATEGIC INVESTOR AFTER THE TRANSACTIONS

* SAYS ALIBABA DOES NOT RULE OUT THE POSSIBILITY TO INCREASE SHAREHOLDINGS IN THE COMPANY BY UP TO 5 PCT WITHIN 12 MONTHS Source text in Chinese: bit.ly/2L8agXm; bit.ly/2utWy72; bit.ly/2uKkUsb Further company coverage: ($1 = 6.7183 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below