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The group gives up on stake sale and further talks on delisting from Nasdaq following the founder’s withdraw of his proposal to privatise the operator.
Founder and Editor, The Tech Capital
3 Mins
July 12, 2024 | 10:53 AM BST
Chinese data centre operator VNET Group, Inc. (Nasdaq: VNET) said its special committee of the company's board of directors received a letter dated July 10, 2024 from Josh Sheng Chen, Founder, Co-Chairperson and interim Chief Executive Officer of VNET, stating that he had determined not to proceed with his preliminary non-binding proposal dated September 13, 2022 to acquire all of the outstanding ordinary shares of the company (the "Founder Proposal") and the Founder Proposal was withdrawn with immediate effect.
Founder and Editor, The Tech Capital
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Chinese data centre operator VNET Group, Inc. (Nasdaq: VNET) has reported its unaudited financial r...