Microsoft Wave Seven-year itch at first sight cloud concept not true gold and silver

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After 7 years of close cooperation, the wave and Microsoft (Weibo) may be parted.

14th, as a wave Group Limited (hereinafter referred to as "Wave Group"), Hong Kong listed companies, Wave International (0.235,-0.00,-1.67%) (00596.HK) disclosed that Microsoft is gradually completed its reduction of the company, after the Microsoft total voting rights will be reduced from 15.51% to 6.59%.

News, Wave International shares fell 4.02% to HK $0.24/share, creating a new low.

is the value of cooperation not reflected?

It is understood that Microsoft has sold about 416 million wave international to third parties this month, the 416 million common shares are converted from Microsoft's 83.1746 million shares. Meanwhile, Microsoft has asked Wave International to buy back 95.0567 million shares of preferred shares next month 8th.

After the sale and repurchase transactions are completed, Microsoft has reduced the total number of preferred shares by 178 million shares, and its preferred shares will fall to 72.859 million shares.

According to the agreement signed by the two sides, Microsoft's remaining 72.859 million shares will extend the expiry date of 2 years from December 8, 2011 (dividend rate from 6% to 9% per annum, and in cash), to maintain Microsoft as a wave of international strategic shareholder status.

In this respect, some brokers said that Microsoft through the wave of buying waves international stock to become its partners, in order to penetrate the mainland market. However, China's mainland government agencies still use Linux as a computer platform, so that the wave of international partner value is not reflected, Microsoft has gradually withdrawn from Wave International.

Microsoft's "curve" enters

The wave has established a partnership with Microsoft since 2004. November 9, the two sides in Jinan signed a global Strategic partnership memorandum, Wave group has become one of Microsoft's 30 strategic partners, is also Microsoft in mainland China, one of the 4 partners.

According to the memo, the two sides will be in the application software, solutions and IT services, server OEMs, management training and exchange programs, software, such as the authenticity of the full cooperation. In addition, the Wave group (or affiliates) will sign a formal corporate agreement with Microsoft within 6 months of signing the memo. According to the agreement, August 26, 2005, Microsoft and Wave International signed the agreement. According to the agreement, Wave International to Microsoft to issue preferred shares, Microsoft funded 25 million U.S. dollars for phased subscription.

(Responsible editor: Liu Fen)