SINA Partial buyout of FMCN for $1.4B will occur Oct 1st or soon thereafter
Focus Media (FMCN) outdoor acquisition by SINA . The main hold-up is the Chinese government's extensive review process, which I believe is occurring due to the upcoming 60th anniversary of the communist party on October 1st. When that date passes, I think the government may give the green light to the acquisition.
In addition, both sides continue to want the deal to consummate and Sina has even added Focus Hot Brand Zone to its website, which is an advertising section on the site for Focus Media's outdoor clients. Clearly that would have not occurred if both sides had cooled to the deal or if they believed that the government would strike it down. Plus, no major shareholders have come out against the deal.
This paragragh was taken from a seeking alpha article on Aug. 31, 2009.