Cisco Systems Buys 9.7% of China's Shanda
A Reuters newswire article, via Yahoo! News, reports that:
Networking equipment maker Cisco Systems has purchased a 9.7 percent stake in China's top online game operator, Shanda Interactive Entertainment, according to a filing with U.S. regulators.
Cisco disclosed its purchase of 13.86 million ordinary shares in Shanda in a filing to the U.S. Securities and Exchange Commission on Tuesday.
It did not provide a purchase price for the shares, which would have a market value of about $104 million based on Shanda's last closing price on the Nasdaq.