Reuters Acquires Minority Stake in Chinese Financial Information Portal
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Reuters (NSDQ: RTRSY) has acquired a minority stake in ChinaWeb, the parent company of Chinese financial information portal Hexun. Founded in 1996, Hexun is now one of China’s largest financial information portals with 50 million monthly unique visitors and 670 million page views per month. Financial terms of the all-cash transaction were not disclosed.
Rafat adds: This is the first investment announced by the combined Reuters-Thomson (NYSE: TOC) company after the deal got regulatory approval.
This story has been provided by our new research partner Pearl Research.
Mar 19, 2008 10:01 AM ET
Posted In: Money, M&A & Venture Capital, Mergers & Acquisitions, Venture Capital, Companies, Reuters, Countries, Asia, China, hexun, thomson
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