$1 Billion Acquisitions Still Exist -- In China (SINA)

Chinese portal Sina.com (SINA) will acquire advertising company Focus Media (FMCN) for $1 billion in stock. The assets include Focus Media’s online adveritisng company Allyes, as well as its LCD display network, poster frame network and anin-store network.

The deal is remarkable because only a year ago, speculation had Focus Media acquiring Sina in a stock-swap, not the other way around.

Last week, we squashed a rumour that Google would buy Focus Media. The same report named Microsoft as an interested suitor. So maybe somebody was trying to drive up Focus Media’s price.

Chinastakes reported the deal and has details.

See Also:
Google Not Buying Focus Media Subsidiary (GOOG)

 

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