SHANDA RISES ITS STAKE IN ACTOZ TO 50%
AsiaInfo Services, August, 2007
AsiaInfo Services 08-30-2007 Shanda Rises its Stake in Actoz to 50% SHANGHAI, Aug 30, 2007 (SinoCast via COMTEX) -- Chinese online game operator Shanda Interactive Entertainment Ltd. (Nasdaq: SNDA) released that it acquired a 50% stake in South Korean online game developer Actoz Soft Co., Ltd.
(Kosdaq: 052790) in July 2007 and would consolidate Actoz's financial statement from the third quarter. Shanda invested USD 91.7 million for a 29% stake in Actoz at the end of 2004, and later pushed the stake up to 38% in February 2005 to solve the copyright dispute over Legend of Mir II, a massive multiplayer online role-playing game which contributed to a lot of Shanda's revenues. In the forth quarter of 2005, Shanda had a CNY 500 million book loss because shares of...
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