--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
SPORTS
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Chinese Women
Film in China
War on Poverty
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service
China Calendar
Trade & Foreign Investment

Hot Links
China Development Gateway
Chinese Embassies

Shanda Makes No Move on Sina

The biggest Chinese online game operator, Shanda Interactive Entertainment, did not launch a bid to take control of the top Chinese Internet portal, Sina Corp, at the latter's annual general shareholder meeting in Hong Kong as many had expected.

Beijing-based Sina Corp held the conference yesterday to discuss the appointment of three directors, stock option plans for senior management, the appointment of its accounting firm and some other matters.

But the focus of the meeting for the public was about whether Shanghai-based Shanda would try to take control of the board of Sina. Both firms are listed on the NASDAQ stock market in New York. Shanda launched a sudden attack in February by buying almost 20 percent of Sina stock from the open market.

It became the largest shareholder of the most influential dotcom in China in a bid to strengthen its advantage in the online gaming sector. Sina is believed to be the second most influential media organization in China after the State-owned China Central TV.

The coming together of the two top Internet companies was expected to result in a drastic reshaping of the Chinese Internet industry.

But Sina launched a counterattack to try to stop Shanda taking it over.

It was believed that the Shanghai firm would either seek to control Sina at the shareholder meeting or withdraw from the firm.

However, it voted for the three director candidates appointed by Sina's board.

Lu Weigang, a long-time Internet industry observer, said, "Shanda has showed its power in approving or vetoing proposals from the Sina board, but maybe Shanda chairman and CEO Chen Tianqiao is too busy to take full control right now."

Chen has been putting a lot of energy into extending Shanda's leadership in online gaming into the home entertainment sector.

However, Shanda abstained from the vote on the stock option plan, which indirectly led to a veto of the proposal.

On Monday, Sina announced that Wang Yan, president and CEO, would only act as CEO.

Charles Cao, former co-chief operating officer (COO) and chief finance officer (CFO) was appointed as president and CFO. Hurst Lin, another co-COO will take sole charge of that post.

"I am extremely happy with Cao' promotion," said Wang Yan, CEO of Sina. "It is a recognition for his contribution to the company as well as a reflection for the roles he has played within the company over the past years. Cao' promotion is a further affirmation of Cao, Hurst and myself working together as a chief executive team. I am confident that this executive team along with the rest of the top management will take Sina to the next level of market leadership," Sina's official website quoted Wang as saying.

There has been speculation that Wang would resign from Sina and Cao would take over his positions following take-over rumours involving Shanda. Other Sina executives were expected to resign.

Sina has had many management changes in the past five years, with two CEOs leaving the company.

One main reason behind this is that the Chinese Internet portal was formed by the merger of several companies in Beijing, Taipei and the United States in 1998. The shareholding structure of the firm is also highly distributed, with different interest groups competing for power.

(China Daily September 28, 2005)

Shanda Eyes Set-top Box Business
Sina Calls for Talks with Bidder
Sina to Swallow 'Poison Pill'
Shanda Buys Large Stake in Sina Portal
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688
主站蜘蛛池模板: 欧美成人一区二区三区在线观看 | 国产成人精品一区二区三在线观看| a级毛片高清免费视频就| 欧美日韩中文字幕在线| 免费1夜情网站| 精品精品国产高清a级毛片| 国产乱子经典视频在线观看| 黑色丝袜美腿美女被躁翻了| 国产精品免费看久久久久| 97热久久免费频精品99| 女人zozozo与禽交| 久久精品小视频| 欧美乱xxxxx| 亚洲欧洲在线播放| 波多野结衣一区二区免费视频| 假山后面的呻吟喘息h| 精品久久久久久无码中文字幕 | 国产综合无码一区二区辣椒| caoporn地址| 女同性之间同床互摸视频| 一边伸舌头一边快速喘气音频原声| 无码国产色欲XXXXX视频| 久久国产精品成人片免费| 日韩视频在线一区| 乱爱性全过程免费视频| 末成年女a∨片一区二区 | 人妻少妇AV中文字幕乱码| 粗壮挺进人妻水蜜桃成熟漫画| 午夜人妻久久久久久久久| 美女毛片一区二区三区四区| 国产97在线观看| 脱裙打光屁股打红动态图| 国产一卡2卡3卡4卡网站免费| 蜜臀av无码人妻精品| 国产亚洲美女精品久久久久| 香蕉精品视频在线观看| 国产又黄又爽胸又大免费视频| 高清国产激情视频在线观看| 国产小视频免费在线观看| 黄网视频在线观看| 国产色视频一区二区三区QQ号|