Business

Sina Responds To Shanda's Purchase

This past Friday in New York, Shanda (SNDA) released data showing that it had been buying shares of Sina.com (SINA) on the open market for the past few weeks. Shanda now owns 19.5% of the Chinese web portal.

In a brief statement, Sina said the only action reported in the filing is the purchase of shares, which has no direct effect on the company or its business and operations and does not require any action on the part of the company's shareholders.

Sina said its Board of Directors will review the filing and continue to act in the best interests of all of the company's stakeholders.

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