May 24, 2017 / 1:08 PM / 2 months ago

BRIEF-Hunan Tianrun to acquire internet firm and game developer for 1.7 bln yuan

1 Min Read

May 24 (Reuters) - Hunan Tianrun Digital Entertainment & Cultural Media Co Ltd

* Says it plans to acquire internet service firm and game developer Muzhi for a combined 1.72 billion yuan ($249.68 million) via cash, share issue

* Says it plans to raise up to 832.7 million yuan in share private placement to fund acquisitions

Source text in Chinese: bit.ly/2qP0Gg8

Further company coverage: ($1 = 6.8888 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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