Others News
- Xinyi Glass acquires Shenzhen firm
Date: 1-Nov-2007 Sources: (Shenzhen Daily)
XINYI Glass Holdings Ltd. said yesterday Xinyi International Investments Ltd., its wholly-owned unit, has entered into an agreement to acquire 100 percent interest in Shenzhen China Southern Automobile Glass Co. for 234.64 million yuan (US$31.37 million).
Xinyi said the acquisition will enable the group to expand further its production capacity and enhance its market position as one of China's leading automobile glass exporters. Shenzhen China Southern Automobile Glass has annual production capacity of approximately 1.3 million pieces of laminated automobile glass products of different specifications.
Telefonica to double China Netcom stake
SPANISH telecom giant Telefonica expects to double its 5 percent stake in China Netcom before the end of the year, Telefonica chairman Cesar Alierta said yesterday.
'We will increase our 5 percent before the end of the year to 10 percent ... which is very satisfactory,'Alierta said. Telefonica had said it aimed to double its investment in China Netcom, but had not spoken of timing. In another development, China Netcom, China's second-largest fixed-line firm, will open today a London office that will be its European headquarters.
Sponsor Results:
