Local media report rumors that Chinese online gaming firm Shanda (SNDA) is in investment negotiations to provide CNY300 million to China Netcom's broadband portal 116.com.cn.
Shanda has not made any comments on the news, but 116.com.cn has confirmed with the media that it is carrying on some share reforms and preparing to shift its focus. However it still has not pinpointed Shanda as the catalyst for these changes.
116.com.cn was launched in 2003 by China Netcom and IDG with a total investment of CNY500 million. Since then, it has become a flagship broadband portal for China Netcom.