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Kingsoft Considering Shedding Non-major Businesses.
BEIJING, November 19, SinoCast -- Kingsoft Corporation Limited (SEHK: 3888, Kingsoft) is considering binding its less- profitable businesses into a new company in accordance with its long-term development strategy.
On November 18, Kingsoft Corporation Chief Executive Officer (CEO) and Chairman Pak Kwan Kau confirms the software developer's reported intention to spin off its "non-mainstream" units and set up a new company.
The company is discussing possible solutions and has not fixed a timetable yet, discloses Mr. Kau, emphasizing that the move does not aim at disposing bad assets as rumored. The to-be- taken-off operations include Kingsoft WPS (Word …
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