XINHUA FINANCIAL NETWORK TO PURCHASE MARKET NEWS INTERNATIONAL
AsiaInfo Services, December, 2003
AsiaInfo Services 12-15-2003 Xinhua Financial Network to Purchase Market News International CHINA, Dec 15, 2003 (SinoCast via COMTEX) -- Xinhua Financial Network (XFN), a subsidiary of China's Xinhua News Agency, said on December 9,that it would purchase Market News International, a service provider of the US Financial News located in Wall Street. This is the first acquisition of a western business by a Chinese Company.
The New York-based Market News International has 5,000 subscribers, of which traders and investors are the majority. The HongKong-based XFN was founded four years ago. Holding a share of 20 per cent, Xinhua Agency, China's main government-run news agency, is the biggest shareholder of XFN. Michael Connor, chief executive officer of Market...
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