Chinese wireless-value added services firm Linktone (LTON) announced that its shareholders have approved a plan to accept investment from Indonesia's PT Media Nusantara Citra Tbk.
The extraordinary general meeting held yesterday in Shanghai.
Linktone's Chief Executive Officer Michael Li commented, "We believe that our companies will have a major opportunity to pursue advertising and WVAS cross-selling initiatives both in China and other Asian countries. We anticipate a very strong and mutually beneficial relationship that provides a great value proposition for shareholders going forward."
As previously announced by Linktone, MNC will launch a partial tender offer in the United States within five business days after the conditions to the tender offer are satisfied or waived. The tender offer will be for up to 6 million of Linktone's outstanding American Depositary Shares for US$3.80 per ADS.