23 August 2019

Restructuring rumors as media firms halt trading, paper says

Trading was halted Monday pending an announcement in shares of Shanghai-listed media firms BesTV and Oriental Pearl, signaling a possible restructuring, Shanghai Daily reported Tuesday. The suspension in the shares of the listed subsidiaries of the Shanghai Media Group (SMG) will continue Tuesday, the report said. Market watchers suggested that SMG, which operates the city’s TV, radio and various internet and mobile businesses, could be about to inject assets into the two listed subsidiaries.

– Contact HKEJ [email protected]


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