Yahoo!, Founder to buy stakes in MIT

Yahoo! Inc and Hong Kong-based Founder, a unit of one of China’s biggest
software developers, plan to gain control of Hong Kong-listed Management
Investment and Technology Holdings (MIT) to invest in China ventures, says the
South China Morning Post newspaper.

Yahoo! Will buy a controlling stake in MIT, which now makes smoke detectors.
Founder will buy about 20% of the company. It will sell its ecommerce and other
internet assets to MIT while overseeing three ventures planned by Yahoo! And
Founder in China.

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