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CEC Plans To Sell Stakes In China Digital Cable TV
May 12, 2008 |
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China Electronics Corporation has put the 45% of its stake that it holds in China Digital Cable TV Co., Ltd on sale at the Beijing Equity Exchange with a reference price of CNY450 million, which is the same as its initial investment in the company.
However, CEC has set a high threshold for the buyer: it must be a state-owned business or holding company; its registered capital must not be less than CNY1 billion; its income in the past three consecutive years must not be lower than CNY1 billion;and it must add CNY2 billion to the company in three years to keep its competitiveness in the industry.
China Digital Cable TV was set up in 2001 by 16 companies including CCTV and Stone Group Holdings Limited. CEC invested in the company in 2005 with CNY450 million.
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