Skype and Tom Online create Chinese joint venture

Iria · Sep 5, 2005, 03:49 PM

PARIS (Reuters) - Free Internet telephone software provider Skype has formed a joint venture with China-focused Internet portal Tom Online, in a bid to boost its subscriber base in the fast-growing Asian market.

The joint venture, Skype's first move into China, will be controlled by Tom Online, with its 51 percent holding, while the balance will be held by Skype, the companies said on Monday.

The new business will develop and distribute a simplified Chinese version of Skype software, which allows users to make free Internet-based phone calls around the world using a broadband connection.

"China is one of our absolutely top markets; it is a big growth market for broadband," Skype co-founder and Chief Executive Niklas Zennstrom said.

Tom Online, which also provides mobile Internet services, is controlled by Hong Kong conglomerate Hutchison Whampoa and Cheung Kong.
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Source: Reuters

Sep 5, 2005, 03:49 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 74	Skype and Tom Online create Chinese joint venture PARIS (Reuters) - Free Internet telephone software provider Skype has formed a joint venture with China-focused Internet portal Tom Online, in a bid to boost its subscriber base in the fast-growing Asian market. The joint venture, Skype's first move into China, will be controlled by Tom Online, with its 51 percent holding, while the balance will be held by Skype, the companies said on Monday. The new business will develop and distribute a simplified Chinese version of Skype software, which allows users to make free Internet-based phone calls around the world using a broadband connection. "China is one of our absolutely top markets; it is a big growth market for broadband," Skype co-founder and Chief Executive Niklas Zennstrom said. Tom Online, which also provides mobile Internet services, is controlled by Hong Kong conglomerate Hutchison Whampoa and Cheung Kong. __________ Source: Reuters