Monday, 18 June 2007
Microsoft Buys Stake In Chinese Electronics Maker
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The world’s largest software maker Microsoft Corp. will invest in Chinese electronics maker Sichuan Changhong Electric Co. Ltd. as part of a project to link televisions and consumer entertainment devices with the Internet. |
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The world’s largest software maker Microsoft Corp. will invest in Chinese electronics maker Sichuan Changhong Electric Co. Ltd. as part of a project to link televisions and consumer entertainment devices with the Internet.
Microsoft Corp agreed to buy 0.8 percent of Sichuan Changhong Electric Co., Microsoft will pay 94 million yuan (USD12 million) for 15 million new at 6.27 yuan each, according to a statement today by the Chinese company, based in Mianyang City in Southwest China's Sichuan Province.
Changhong's announcement follows an agreement between the two companies, to cooperate on a project called Media Galaxy. The goal is to develop, manufacture, and sell televisions, computers and digital entertainment products that connect to the Internet, Changhong said. It did not offer further details. |
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