Tom intends to purchase 20% shares of sina grand Wang Leilei will replace Wang Yan

According to a media report in Hongkong, Tom is seeking to buy Shanda's 20% stake in sina.

Shanda Interactive Entertainment Co., Ltd. in the open market last year, Sina acquired nearly 20% shares, but because the two sides failed to reach an agreement on the price, the acquisition of a grand plan for the acquisition of sina eventually deadlock.

The relevant reports cited unnamed sources as saying that the Hongkong billionaire Li Jiacheng Tom, not only to control the acquisition of grand hands of Sina stock, but also intends to buy Sina stock holdings Jiangfengnian. Jiang Fengnian resigned as chairman of sina earlier this month.

A spokesman said the company will not comment on market rumors. Tom spokesman has not yet been contacted.

The two transactions will be at the end of the end of the month, when Tom in Sina shares will be more than 20%. In addition, the report said, after the end of the transaction, Sina CEO Wang Yan will resign, Tom group's Internet and wireless media department head Wang Leilei will take his place.

Sina reported last month that fourth quarter earnings fell by an estimated $21% in the second quarter as mobile services revenue growth slowed, and is expected to worsen this year.