Friday, September 08, 2006

Finally, some action from GlobalMarket

I've been watching Guanggzhou-based GlobalMarket for almost five years, like the company but have, until now, been a bit disappointed by its failure to keep pace with Global Sources and I was, therefore, very interested to see the report in the People's Daily online noting that Nasdaq-listed Ninetowns Digital World Trade Holdings has invested $5 million for 16.25% of the business.

The report quotes Ninetowns' CEO Wang Shuang saying that "the firm will seek to increase its investment in GlobalMarket in the future as part of its Internet-oriented transformation".

See here for PR Newswire's distribution of Ninetown's press release.

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