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SHANGHAI, November 03, SinoCast -- Tsinghua Tongfang Co., Ltd (SHSE: 600100, Tsinghua Tongfang) is trying to deepen its footprint in the Chinese bourgeoning digital TV market.
The Shanghai-listed information technology (IT) service provider announced today that it plans to spend USD 19.5 million buying a 25% stake in Sino-Korean home shopping joint venture Shanghai Oriental CJ (OCJ).
The deal will enable Tsinghua Tongfang to build up a complete industrial chain covering equipment, network services, content resources and value-added services in the digital TV filed, according to the Beijing-based company.
The transaction will be conducted by an …