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SNDA acquired 19.5% of Sina

www.chinanews.cn 2005-02-21 13:28:30

Chinanews, Shanghai, Feb. 19 (By XU Xiaoqing) - Before dawn this morning
(Beijing Time), Shanda Interactive Entertainment Limited (SNDA),
currently China's biggest online game operator, sent email from its
Shanghai offices to the media announcing the company's acquisition of
19.5% of the ordinary shares of Sina Corporation (Sina).
It is learnt that in accordance with US securities laws, SNDA has filed a
Schedule 13D statement (beneficial ownership declaration) with the U.S.
Securities and Exchange Commission (SEC), reporting the acquisition as
well as other information that is required in the Schedule 13D statement.
SNDA has declined further comments on the issue up to now.
It is worth noting that about a month ago, Chen Tianqiao, SNDA's
President and CEO, revealed at a small press conference in Shanghai that
in regards to its acquisitions, 2004 was just the beginning, and if the
company did not grab the best opportunities and expand rapidly, it would
undoubtedly regret three years later. What is certain is that Chen
anchors SNDA's acquisition strategy on the principle of selecting from
among its existing and potential rivals in the interactive entertainment
industry, both locally and abroad.
A special news commentator for Sina predicted that if SNDA's acquisition
of Sina goes through, it would usher in a new restructuring in the
mainland's online media industry.

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

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