Thunder 130 million yuan to sell Thunder KanKan nest international media disk

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technology news Beijing time on April 1st morning news, the thunder (Nasdaq:XNET) today announced that the company has nesound international media Limited by Share Ltd and the independent third party of Beijing (hereinafter referred to as "nesound international") to reach a legally binding agreement, all the shares held by the company will sell the Thunder KanKan.

thunder plans to sell yuan to the price of $130 million. The thunder board has approved the deal after considering the benefits it can bring to the company and its shareholders. Thunder that stripping Thunder KanKan consistent with the company’s new strategic focus, namely streamlining existing unprofitable non core businesses to focus management to implement mobile and Project Crystal strategy.

this transaction will need the signing of a definitive purchase agreement to complete, must meet the closing conditions of this agreement, which may include the transfer of domain name and other assets and Thunder KanKan to complete a specific project, business, and the transfer of Thunder KanKan services operating permits and licenses required. If the transaction is due to thunder or ring international default and failed to reach (including failed to reach the closing conditions), the responsible party will pay an additional fee of 52 million yuan. (Tang Feng)

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