The group recently announced a deal to swap its shares from loss-making Yazhou Zhoukan to Ming Pao, and it has sold 35 per cent of Tom Outdoor to Singapore Press Holdings. It also closed one of its publications in China, the English-language travel title Asia and Away, this month.
Declining to comment on the market speculation, Tom CEO Tommei Tong Mei-kuen said: "With a prudent investment approach, Tom (Group) will continue its business focus in Greater China, and keep exploring opportunities that can enhance shareholder value." However, head of media and entertainment investment banking at CSLA Asia-Pacific, Simon Dewhurst, said: "You'd be merging two of the dominant portals, and it would give them major reach in terms of customer database, content, and advertiser reach."
Tom's asset sale hints at move on China's Sina.com
Media investment analysts believe that Tom Group's recent asset divestments are just the beginning of a process to build a war chest ahead of a possible move on Chinese portal, Sina.com.
