Microsoft to buy stake in Chinese TV maker
18 June 2007
Microsoft will spend US$12.3 million on a stake in television and electrical appliance manufacturer Sichuan Changhong Electric, Reuters reported. The Chinese company announced the deal on Monday. Microsoft and Changhong are to collaborate in developing, making and marketing televisions, computers and other digital home entertainment products, Reuters reported. Under the terms of the deal, the Chinese company will place 15 million new shares with Microsoft at RMB6.27 (US$0.82) - a 37% discount on its last trading price - which would give the US software giant a 1% holding. The sale has still to be approved by Changhong's board.