More LTON news:
NEW YORK, Jan 29 (Reuters) - BroadWebAsia, an online entertainment network in China, said it has proposed to buy shares in Linktone Ltd (LTON.O: Quote, Profile, Research), challenging an offer by PT Media Nusantara Citra.
BroadWebAsia's proposal includes buying over 60 percent of Linktone's outstanding shares, using a combination of a tender offer for around 25 percent of outstanding shares of Linktones, or 6.0 million existing American Depositary Shares (ADSs) at a price of $4.18 each.
It also proposed a commitment to buy $10 million of ADSs on the open market as part of the investment deal. MNC agreed to acquire at least 51 percent of the company at $3.80 per ADS. (Reporting by Ritsuko Ando)
Jan 30 (Reuters) - Chinese media firm Linktone Ltd (LTON.O: Quote, Profile, Research) said its shareholders approved the acquisition agreement between the company and Indonesia's PT Media Nusantara Citra (MNC).
In an extraordinary general meeting held in Shanghai, China, the shareholders also approved the issuance of up to 252 million shares of the company to MNC, Linktone said in a statement.
Linktone said it also received shareholders' nod for the election of MNC's designees to Linktone's board. (Reporting by Varsha Tickoo in Bangalore; Editing by Vinu Pilakkott)
>> the shares traded like "nobody cares" at $3.25-$3.37 at very low volume. Why? <<
Why nobody cares? People are too busy with SuperBowl parties? I don't know.
Julius
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