Regulators Block Microsoft Investment in Sichuan
Published: 28 December 2007
by Mike Buetow
Microsoft was planning to take a small stake in Sichuan Changhong Electric, its first attempt to take an equity position in a Chinese hardware manufacturer. Sichuan Changhong is reportedly one of the largest TV manufacturers in China.
The commission did not issue a reason for its decision. However, there are allegations that a recent uptick in Sichuan's stock price was tied to insiders who knew of the pending deal.
Curiously, the reported stake Microsoft was to buy was miniscule: roughly $13 million.
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