Focus Media Holding Ltd refutes allegations of Muddy Waters

Source: China.org.cn
© Scanpix/AP

Focus Media Holdings Ltd was accused by Muddy Waters of deliberately overpaying for takeovers in order to overvalue its assets. After allegations Nasdaq-listed shares of Focus Media Holdings dropped by 66 cents to $15.43 being 52-week low. However, Focus Media Holdings denies the accusations and plans to take legal action against Muddy Waters.

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Wed, 23 Nov 2011 13:47:51 GMT

China to be a leader in online market

China plans to overtake the US becoming the world's largest online market by 2015, reports Boston Consulting Group. China's e-commerce market is expected to increase by 33% and overcome a 2 trillion Yuan threshold in transaction value by 2015 with the number of customers buying online growing to 329 million at the same period. Moreover, e-tailers will contribute 7.4% to the total retail value

Wed, 23 Nov 2011 13:34:37 GMT

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