on August 22

Great Wall broadband failed bid last year, this year, Dr Peng (600 the old republic power leveling,804) prepared a comeback. 　　Today, Dr Peng disclosed equity up for transfer and the company great wall broadband bid intentions. Bulletin shows that Dr Peng Board agreed with the company in accordance with the conditions listed publicly in the CITIC networks in North bid for great wall broadband 50% Equity and $ 484 million debt. CITIC networks had on November 17 in the North by listing these rights. 　　Great Wall broadband 50% equity pricing $, plus $ 484 million debt, total price amounted to $ 1.084 billion of these rights. Data show that the great wall broadband was founded on April 3, 2000, currently State-owned enterprises, CITIC networksHeld 100% shares. 　　Performance in recent years the rise of the company, in 2008, 2009, 2010 and 2011 to June net profit-$ 107,800, respectively $ 69.9776 million, $ 132 million and $. This is not the first time Dr Peng stakes in great wall broadband bid. 20On April 21, 10, Dr Peng Board consider the adoption of the motion, to be applied to the China Beijing equity exchange bid for great wall technology shares, great wall computer (000066), kaifa (000021) hold great wall broadband, 40% and 5% respectively, totaling 50% per cent. Never thought, on July 27 the assignment was received by letter sent by: CITICNetwork position will exercise the right of pre-emption, which Dr Peng bid for great wall broadband 50% equity cannot succeed. Compared to the previous round of bidding, this higher cost of over $ 1 billion. Previous acquisition of great wall broadband, the company produced $ 320 million in addition to real money, but also by great wall technology liability for warrant of commitment to pay off the original great wall broadband 550 million yuan of bank loans for a total of 8.$ 700 million. It is worth noting is that this bid, CITIC networks more demanding payment terms. Was identified as the final transferee and transfer within 5 working days from the date of signing of the property right contract. Contract signing one-time payment transactions within 5 working days from the date of the price to the account specified in the North, and within 90 days from the date of its signature of the contract to pay $ 484 millionTo transfer a specified bank account for the reimbursement of standard enterprise transfer debt arrears. However, judging from publicly available information, Dr Peng stores sufficient. Company quarterly results showed that Monetary Fund balances at the end of 1.586 billion yuan. In addition, on August 22, the company received the Bank of China (601,988) issued by the Association of market transactions between the acceptance of registration noticePaper, agreed the issue of short-term financing bonds of companies for registration the amount of 700 million dollars. 　　On November 14, the application for issuance of not exceeding a total of $ 1.4 billion of corporate bonds is also a condition for the adoption of the Committee made by the SFC. Although Peng said the transaction funds to the company's own funds, insufficient foreign financing by the company address. However, the above information, Dr PengFinancial flows should be sufficient to cover the acquisition costs. The significance of the bid, said great wall broadband stake in favour of the company is quickly cut into the target city broadband access market swtor power leveling, achieved through business integration allows companies complement each other and play collection effect, effectively reducing the operational costs, promote corporate smooth implementation of national broadband Internet access service, and fast forward,Enhance the company's influence in the broadband access market and market share, in line with the company's overall development strategy.