La Ka-shing’s Tom Group continues its manic shopping spree in China. This just in from Pacific Epoch:
Tom Bids For 49% Of Shanghai Xinhua Publication Group
Tom Group is bidding for 49 percent of Shanghai Xinhua Publication Group, reports Ccidnet. State-owned Assets Supervision and Administration Commission of the State Council (SASAC) is in charge of the sale. The 49 percent stake will cost approximately 300 million Yuan. Tom Group’s main competitors are Shanghai Greenland Group and Shanghai Hongpu Industries.
Tom Group was recently in the news after signing a deal with Skype to market their Internet phone services in China. Scratch that: Tom Group is in the news almost every day, buying and buying and buying. No offer has yet been made for Danwei.org.