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O'Brien eyes 10m Chinese online recruitment spend.

Europe Intelligence Wire

| July 01, 2006 | COPYRIGHT 2006 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Irish Independent)

DENIS O'Brien is to spend at least 10m building up an online recruitment business in China - the world's fastest-growing economy - and has just bought SHjob.cn in Shanghai.

It is understood that Keyland Ltd, which owns IrishJobs.ie, has already signed memoranda of understanding with a number of other online companies in Beijing and the Guangdong Province.

Mr O'Brien has been expanding his online jobs business in Britain, but the Shanghai acquisition is Keyland's first deal in China and marks an ambitious plan to become established in this vast country.

He is the majority shareholder in the company and Leslie Buckley holds a minority stake in it.

A purchase figure for SHjob.cn was not revealed.

SHjob.cn advertises over 15,000 jobs from more than 4,000 companies and employs more than 50 staff. At present, some 350,000 people visit the website every month.

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