Home Inns Buys Anhui Smaller Rival
Home Inns & Hotels Management Inc (Nasdaq: HMIN), a leading budget hotel operator in China, said it has spent ¥59.8 million acquiring Anhui province-based eJia Express Hotels, which has a network of 1,284 rooms, most of them in Hefei, Anhui's provincial capital. Home Inns plans to spend no more than ¥10,000 renovating each room, CEO Sun Jian said. Home Inns operates 1,100 hotels nationwide.
Total Eyes Shanghai Listing
Total SA (NYSE: TOT) is planning to float at the international board on the Shanghai Stock Exchange, the company's treasurer said, without revealing a timetable. Similarly, the Shanghai bourse has also not revealed a timetable for the launch of its international board. Total is currently traded in Paris, New York, Brussels and London.
$1 = ¥6.31