Malaysia’s Nextnation Communication has entered China’s mobile content services market by acquiring a 50 per cent stake in a subsidiary. Nextnation has signed a “Heads of Agreement” with Beijing Himo and Jumpstart Investments to acquire Often Reach Investments, which will provide mobile content service in China. Often Reach will be a wholly-owned foreign entity. This acquisition will give Nextnation an opportunity to tap China’s fast growing mobile market. Nextnation’s investment in the entity is not disclosed. [Via Press release]
The Star adds that Nextnation will roll out 3G services in China by the second half of 2006. The company would focus on the major coastal cities, and it’s in talks with several players in the entertainment industry and television firms in China.
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