Tuesday, December 26, 2006

Shanda (SNDA) Higher on Rumors Google May Buy Qidian for $400-$600M

Shanda Interactive (Nasdaq: SNDA) is higher today on rumors Google (Nasdaq: GOOG) may be interested in buying Chinese literature site Qidian (www.cmfu.com) owned by Shanda for between $400-$600 million. According to Bloomberg, a Shanghai-based spokesman for Shanda denied the report.

Shares of Shanda are 6.9% to $21.38 in mid-day action.

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