Chinese Portal Shanda Divesting $99.1 Million Stake in Sina


Chinese online gaming and interactive entertainment firm Shanda is divesting about $99.1 million worth of stake in the other Chinese online portal firm Sina….it is selling about 3.7 million shares it holds to Citigroup Global Markets. Following the sale, Shanda will still continue to hold 6.1 million Sina shares, representing approximately 11.4% of the issued and outstanding share capital of Sina.
Some more info in the release here.

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