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BRIEF-VisionChina Media says terminates sale of equity interest in Subway Mobile TV ad business
February 27, 2017 / 2:17 PM / 9 months ago

BRIEF-VisionChina Media says terminates sale of equity interest in Subway Mobile TV ad business

Feb 27 (Reuters) - VisionChina Media Inc

* VisionChina Media terminates transaction selling equity interest in its Subway Mobile TV advertising business

* VisionChina Media Inc - termination was due to “parties’ disagreement over operating management philosophy for new culture”

* VisionChina Media Inc - pursuant to termination agreement, company will regain 49% equity interest in new culture from Ledman

* VisionChina Media Inc - will repay Ledman rmb61.0 million cash consideration, with interest equivalent to that earned in a bank deposit for same duration

* VisionChina Media Inc - in addition, company will repay RMB321.2 million in cash over next three years by selling 17.1 million shares of Ledman Source text for Eikon: Further company coverage:

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