CHINA MOBILE SAID TO BUY INTO PHOENIX TV
AsiaInfo Services, March, 2006
AsiaInfo Services 03-24-2006 China Mobile Said to Buy into Phoenix TV HONG KONG, Mar 24, 2006 (SinoCast via COMTEX) -- China Mobile (Hong Kong) Limited is rumored to weigh a plan to buy into Phoenix Satellite Television Holdings Limited (Phoenix TV), the biggest satellite television operator broadcasting into China, in a bid to provide information news to 3G communications. Spokespersons of both companies said that they have not heard about the news yet, while a source close to China Mobile (HK) disclosed that only the executives in the two companies know the issue. The capital market showed great zeal to the potential deal.
Phoenix TV shares jumped 5.75% on March 21. Many insiders held that China Mobile (HK) and Phoenix are likely to strike the deal. ...
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