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Equity Market News 19th May 2012

Equity Org Headlines:

Essar Energy adds 3 percent in mostly lower London energy sector

Antofagasta leads miners higher in London

Hunting plc leads energy sector lower

Sports Direct International leads London retailers higher

Pace plc drops 40 percent on profits warning

Royal Bank of Scotland leads London banks lower

Royal Bank of Scotland leads banks, FTSE 100 higher in London

Lloyds Banking Group drops 8 percent on first-quarter loss

Lloyds shares down on PPI claims

Aquarius Platinum adds 7 percent amid mostly lower mining sector

24/05/05

Permalink 08:22:28 pm, Categories: Tokyo Nikkei & Topix, 136 words  

Publisher enters China

Media and publishing group Bertelsmann has entered into a joint venture with Liaoning Publishing Group to distribute books to retailers throughout China.

Bertelsmann also has business relationships with other Chinese book companies, including a partnership with China Science and Technology Book company and a joint venture with Beijing 21st Century Book Chain, a national private book retailer.

The state retains tight control of publishing in China, but the opening of wholesale and retail book, newspaper, and periodical distribution to foreign investors was announced by the government last year.

The new venture, Liaoning Bertelsmann Book Distribution, will be based in the northeastern city of Shenyang and is worth Rmb30 million ($3.6 million). Liaoning Publishing will control 51 percent of the new company.

At first, the venture will focus distributing Chinese-language books, but it might eventually also distribute English-language books.

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