Weibo acquires Sina subsidiary, clarifies that the deal doesn’t change relations...
source link: https://technode.com/2022/12/26/weibo-acquires-sina-subsidiary-clarifies-that-the-deal-doesnt-change-relationship-with-sina/
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Weibo acquires Sina subsidiary, clarifies that the deal doesn’t change relationship with Sina
On December 23, Nasdaq-listed Weibo announced that its wholly-owned subsidiary Weibo Hong Kong Limited acquired the entire equity of Sina.com Technology (China) for approximately RMB 1.5 billion ($215 million). The acquired company is a wholly owned subsidiary of Sina Hong Kong, and the owner of Sina’s Beijing headquarters property. The move was publicly seen as Weibo buying its former parent company Sina, but Weibo clarified that the deal doesn’t involve any change to its management relationship with Sina. Sina launched the microblogging service Weibo in 2009, and the latter was spun off as a separate entity in March 2014. [China News, in Chinese]
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