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China Everbright, Bejing Baofeng to buy 60 percent of MP & Silva - source

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05/24/2016 | 10:04am CEST

Chinese companies China Everbright (>> China Everbright Limited) and Beijing Baofeng Technology (>> Beijing Baofeng Technology Co Ltd) are set to buy a 60 percent stake in Italy-owned media rights group MP & Silva, a source familiar with the matter said.

Chinese companies China Everbright (>> China Everbright Limited) and Beijing Baofeng Technology (>> Beijing Baofeng Technology Co Ltd) are set to buy a 60 percent stake in Italy-owned media rights group MP & Silva, a source familiar with the matter said.

The deal values MP & Silva at just over $1 billion (689 million pounds), the source said.

(Reporting by Elvira Pollina, editing by Giselda Vagnoni)

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