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Google Plans to Gulp down China's Portal Sina(SinoCast China Business Daily News Via Thomson Dialog NewsEdge)BEIJING, May 03, SinoCast -- It is generally believed that Google would manage to acquire China's top Internet portal Sina Corporation. In the coming three years, Sina's proceeds from online advertisement business will grow 30% to 35% each year. Thus, the Internet company is the most attractive acquisition target for Google, the world's leading search engine, according to Jane Hsieh of the investment firm Clay Finlay. Google is planning to buy the portal so as to gain a stronger foothold in the Chinese market. At the moment, Sina's share price is USD 26.12, and the figure is 33 times that of USD 0.8, estimated earnings per share for 2006. The price is very much lower compared with that of the listed companies of the same sector, Jane Hsieh continued. Ming Shao of Susquehanna Financial Group rates Sina a "buy," and also figures several other Chinese firms as suitable targets, including Alibaba.com, Tom Online and Focus Media. [ Back To TMCnet.com's Homepage ] |