58.com downgraded to Underweight from Equal Weight at Morgan Stanley As previously reported, Morgan Stanely downgraded 58.com to Underweight from Equal Weight. The firm expects 58.com's new large-scale marketing campaign to pressure margins near-term and recommends taking profits until there is improved visibility. Price target is $37.50.
58.com acquires Anjuke for $267.01M 58.com announced that it has acquired Anjuke, an online real estate listing platform in China. 58.com paid approximately $267.01M, including approximately 5.09M new ordinary shares of 58.com and $160.17M in cash for a 100% equity stake. Following the acquisition, Anjuke will continue to operate its website and mobile app under the Anjuke brand.