Mar 8, 2002

China grants nod to Bertelsmann's print operations

SHANGHAI: Bertelsmann has secured a licence to launch printing operations in China, fuelling speculation that the German media giant would soon roll out its publishing and television properties in the mainland.

The company was granted approval to establish a printing company in Shanghai through a planned joint venture with two mainland printing and packaging companies.

It will invest US$29 million for a 50 per cent stake in the joint venture, which will handle the printing of books, magazines, newspapers and packing materials.

Although the printing venture is seen largely as a support operation for its book club network, industry sources believe the latest development ...

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