The following press releases and media reports about Chinese companies were carried on October 17. To view a full article or story, click on the link next to the headline.
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PetroChina’s (HKEx: 857) Former Indonesia Chief Under Investigation – Sources (English article)
Yahoo (Nasdaq: YHOO) Reduces Planned Stake Sales To Alibaba On Strong Outlook (English article)
Baidu (Nasdaq: BIDU) In Talks To Acquire Ku6 (Nasdaq: KUTV), 56.com – Source (English article)
NQ Mobile (NYSE: NQ) Completes $172.5 Mln Convertible Senior Notes Offer (PRNewswire)
ZTE (HKEx: 763) Wins Highest EPC Share of China Telecom LTE Tender (Businesswire)
An interesting war of wills is shaping up between the Hong Kong stock exchange (HKEx) and e-commerce giant Alibaba, which looks increasingly determined to make its highly anticipated multibillion-dollar IPO in Hong Kong rather than New York. Alibaba’s apparent determination to keep its listing closer to its home China market is understandable, since the Hong Kong stock exchange is already home to China’s biggest listed Internet company, Tencent (HKEx: 700). But that said, Alibaba’s only personal experience with a public listing was also in Hong Kong, and that listing involving its B2B unit Alibaba.com was largely a failure. Shares of Alibaba.com initially soared after their 2007 IPO, but then were largely ignored by investors due to slowing growth, prompting Alibaba to ultimately privatize the company last year. Read Full Post…
Just days after making its first acquisition in China under a new CEO, faded US search giant Yahoo (Nasdaq: YHOO) is reportedly in talks to re-acquire the Chinese rights to its brand from former China partner Alibaba. The reports, if true, would be the latest signal that Yahoo is gearing up for a major new attempt to become a player in China’s huge Internet market, following 2 failed previous attempts. If such a new foray really comes, Yahoo would join other major US Internet giants such as eBay (Nasdaq: EBAY) and Google (Nasdaq: GOOG), which also look set to make big new pushes into China following earlier failures. Read Full Post…
The following press releases and media reports about Chinese companies were carried on July 20-22. To view a full article or story, click on the link next to the headline.
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Yahoo (Nasdaq: YHOO) To Reacquire China Yahoo From Alibaba – Source (English article)
SPD (Shanghai: 600000), China Mobile (HKEx: 941) In E-Payments Tie-Up (Chinese article)
Yahoo makes first China purchase with Ztelic under new CEO
If Yahoo’s (Nasdaq: YHOO) new chief executive Marissa Mayer wanted to confuse the market about her China strategy, she’s doing a good job with the company’s latest move in the market. Just 3 months after shuttering its China email service, in what looked like the prelude to a withdrawal from the market, Yahoo has announced its purchase of a Chinese R&D startup. (English article) In all fairness, Mayer has only been on the job for a year and these kinds of little strategic moves are relatively common for incoming executives. But this kind of mixed signal could also auger a confused strategy in China, similar to Yahoo’s previous strategy that ultimately led to its failure twice in the complex market. Read Full Post…
The following press releases and media reports about Chinese companies were carried on July 19. To view a full article or story, click on the link next to the headline.
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China Hits US, South Korea With Solar Material Duties, Skirts EU Decision (English article)
Tencent (HKEx: 700), Alibaba in Talks to Acquire Jiayuan (Nasdaq: DATE) – Sources (English article)
Tencent, China Unicom (HKEx: 762) In Weixin Tie-Up (Chinese article)
Yahoo (Nasdaq: YHOO) Buys Chinese Startup Ztelic To Boost R&D (English article)
Xiaomi Nears New Funding Round, To Value Company At $9 Bln – Source (Chinese article)
Having let the markets get pumped up with huge expectations for its upcoming mega IPO, e-commerce leader Alibaba now appears to be trying to temper some of those high hopes in the run-up to an offering that is likely to be the biggest ever for a Chinese Internet firm. The reason for the sudden change of tone? Apparently the company wants to avoid following in the footsteps of social networking giant Facebook (Nasdaq: FB), whose IPO was so overhyped by the time it finally occurred that it was almost bound to result in failure and major disappointment. Read Full Post…
When in doubt, regulate. That seems to be the growing attitude in Beijing these days towards China’s tech sector, following the latest media reports that one government agency is getting ready to tackle the problem of mobile spam, while another prepares rules for the newly emerging industry of apps that help people call taxis. I do agree that many problems like mobile spam need to be controlled, and that emerging sectors like taxi apps could always use some guidance to promote orderly development. But China’s growing tendency to try to regulate all things in the tech realm is a bit worrisome, and reflects a broader national love of rules, regulations and bureaucracy. (previous post) Read Full Post…
The headlines are buzzing today with news that Yahoo (Nasdaq: YHOO) will formally close its China-based email service, in the latest sign that the company may soon withdraw from China completely. Such a move wouldn’t come as a big surprise, since Yahoo’s recently named new CEO has been making some major changes in a bid to revive the struggling former Internet pioneer. One of those moves is likely to see Yahoo withdraw from many of its secondary markets to focus on its core operations in the US. Read Full Post…
The following press releases and media reports about Chinese companies were carried on April 19. To view a full article or story, click on the link next to the headline.
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IBM (NYSE: IBM) In Talks To Sell x86 Server Business To Lenovo (HKEx: 992) (English article)
Yahoo (Nasdaq: YHOO) China To Halt Email Box Service On August 19 (Chinese article)
China Mobile (HKEx: 941) Ends Agreement With FarEastone (Taipei: 4904) (HKEx announcement)
The headlines have been flooded almost daily these last 2 weeks with the latest rumors regarding the much talked-about IPO for leading e-commerce firm Alibaba. The latest rumors from the last couple of days have cited a leaked internal company memo saying Alibaba plans to begin IPO preparations in the second half of next year, and could make a listing as soon as the end of 2013. (English article) Those rumors follows similar talk over the last week that the company is in the process of a major restructuring to organize Alibaba into 4 or 5 units around each of its key business areas. After rumors of the IPO came out, US media quoted still other sources saying that terms in the ongoing divorce between Alibaba and major stakeholder Yahoo (Nasdaq: YHOO) give Alibaba incentives to make its IPO closer to 2015. (English article)
The headlines have been flooded almost daily these last 2 weeks with the latest rumors regarding the much talked-about IPO for leading e-commerce firm Alibaba. The latest rumors from the last couple of days have cited a leaked internal company memo saying Alibaba plans to begin IPO preparations in the second half of next year, and could make a listing as soon as the end of 2013. (
