Failure of Focus Media Takeover Good and Bad for SINA - trackseekingalpha

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Failure of Focus Media Takeover Good and Bad for SINA
Sep 30, 2009 01:52 PM UTC

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FMCN	n/a
SINA	n/a

Via Long Investment Ideas from Seeking Alpha:

SINA Corporation (SINA) said that it has dropped plans for acquiring Focus Media Holding Limited (FMCN) due to the delay in approval from China's Ministry of Commerce regarding antitrust issues. The companies have decided not to extend the deadline of the agreement.

In order to provide more effective and integrated marketing solutions, SINA entered into a definitive agreement with Focus Media Holding Ltd. in 2008 to acquire substantially all of the assets of Focus Media's digital out-of-home advertising networks, including LCD display network, poster frame network and in-store network.

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