Shanda takes 20% stake in Sina.com
23 February 2005
US-based online game company Shanda Interactive Entertainment acquired 19.5% of web portal Sina.com in a deal worth about US$260mn, becoming the largest shareholder in Sina Corp, and fueling speculations that a full buyout could follow. Shanda, China's largest online game provider, has about two million peak concurrent game users, while Sina's portals is one of the most populat in China, thanks to its news and email services. The acquisition was seen by some as a bid by Shanda to gain ready access to an existing online community in China.