China Mobile Communications Corporation (China Mobile or CMCC) may inject large amounts of money into People's Daily Online, which is going to list on the market as a limited company in late June, according to reports Wednesday.
If implemented, CMCC's injection may be the first step for People's Daily Online to issue its initial public offerings (IPO).
According to reports, when still in the position of CMCC's CEO, Wang Jianzhou had visited the People's Daily Online and reached agreements on some investment issues with senior officials from People's Net.
In 2009, reports disclosed that ten Chinese mainland news websites, including the Xinhua and People's Daily online, were selected as the first batch of news websites to launch on the A-share market, which aimed at stepping up news websites' restructuring.
As reported, these news websites would be transformed into limited companies and put on the market.