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Chinese data centre giant VNET Group evaluating new $1.1bn share buyout

The race for one of China’s largest digital infrastructure players heats up as bidders go head to head in an attempt to outbid each other’s in a bid to scope up data centre assets.

By João Marques Lima

Founder and Editor, The Tech Capital

4 Mins

September 13, 2022 | 2:21 PM BST

Chinese data centre giant VNET Group evaluating new $1.1bn share buyout

VNET's N-HB01 future data centre facility in China. Source: VNET

The Tech Capital

Chinese digital infrastructure player VNET Group, Inc. (Nasdaq: VNET) has confirmed that its Board of Directors has received a preliminary non-binding proposal letter from Josh Sheng Chen, founder of the company and the executive chairman of the Board, proposing to acquire all of the outstanding ordinary shares of the company for US$8.20 in cash per American depositary share (ADS), or approximately US$1.3667 per ordinary share.

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João Marques Lima

Founder and Editor, The Tech Capital

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