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Stock Market & Financial Investment News

News Breaks
August 15, 2014
06:04 EDTBITA, LASBitAuto and Lentuo International estabalish joint venture with UXIN
Bitauto (BITA) announced that it has entered into an agreement to establish a joint venture with Lentuo International (LAS) and Youxinpai (Beijing) Information Technology, a professional auto auction service provider in China. The JV will integrate the companies' nationwide resources into an online-to-offline platform focused on high-end used cars in China. The joint venture, which will originally be centered on Beijing and gradually expand to other cities, will integrate the resources of each partner to build the largest Online-to-Offline platform exclusively focused on high-end pre-owned cars in China. Lentuo will own 60% of the joint venture with Bitauto and UXIN each holding 20%.
News For BITA;LAS From The Last 14 Days
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September 12, 2014
17:32 EDTBITATiger Global reports 14.9% passive stake in Bitauto
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September 10, 2014
09:17 EDTBITAChina mulls easing car dealer restrictions, Bloomberg says
China's Ministry of Commerce is considering whether to ease rules on car dealers and allow them to sell vehicles from multiple brands in the same store, according to Bloomberg, citing people familiar with the matter. Note that both Bitauto (BITA) and Autohome (ATHM), which operate automobile buyer focused websites in China, were down significantly during yesterday's trading, though it is unclear if the reported new regulations play a role in their share weakness. Publicly traded carmakers include Fiat (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
05:43 EDTBITABitauto states policy not to comment on unusual market activity
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