Walt Disney Company (DIS) Led Consortium To Buy Into Bus Online
By Benzinga Staff
February 08, 2010 9:39 AM
February 08, 2010 9:39 AM
A Walt Disney Company (NYSE: DIS) led consortium is set to buy a stake in Bus Online, a Chinese media company. The consortium will also include Goggle (NASDAQ: GOOG).
The consortium is expected to take a 30%-40% stake in Bus Online, which is worth more than $100 million. The deal will include purchase of old and new shares issued by Bus Online in private placements. Since 2004, Bus online has managed to raise $80 million from venture capitalists.
However, the involvement of Google in the deal is odd. The company had recently taken a stand against the Chinese government's censorship. Google is expected to only take a small stake in the company.
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