Funtalk China, a wireless-communications devices retailer, said it has received offers from a consortium of investors to buy the remaining shares they don’t already own in the company.
The group – which includes Arch Digital, Capital Ally, GM Investment,…
Funtalk China, a wireless-communications devices retailer, said it has received offers from a consortium of investors to buy the remaining shares they don’t already own in the company.
The group – which includes Arch Digital, Capital Ally, GM Investment, Sinowill, Huge Harvest (held by Funtalk’s CEO, Dongping Fei), Kingstate, and Trend Focus – already controls 77.13% of Funtalk.
It now looks to buy the remaining stake for approximately US$98m, or US$7.10 a share. The transaction is expected to be financed with a combination of debt and cash. According to a statement, several investment funds have expressed interest in providing funding.
