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Chinese Online Games Firm Shanda Sells Stake in SINA for $99 Million

Authored by Mark Hefflinger on November 7, 2006 - 3:43pm.
Shanghai, China - Chinese online game publisher Shanda Interactive Entertainment announced on Tuesday that it will sell part of its stake in Chinese Web portal SINA to Citigroup Global Markets for $99.1 million.

Following the sale of 3.7 million SINA shares, Shanda will continue to hold 6.1 million shares, or able 11.4% of the company. Shanda operates a number of both casual and massively multiplayer online games in China, including "The Legend of Mir" and "Ragnarok Online," and also distributes cartoons, literature and music.

Related Links:
http://biz.yahoo.com/prnews/061106/lnm007.html?.v=19
http://www.sina.com
http://www.snda.com
tags: Games | Deals | Internet | China | SINA | Investing | Asia | Online Games | Portals | Shanda | Stocks |



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