February 1, 2018 / 9:18 AM / 4 months ago

BRIEF-Beijing Sinnet Technology To Acquire 85 Pct Stake In Beijing Cloud Computing Firm

Feb 1 (Reuters) - Beijing Sinnet Technology Co Ltd :

* SAYS IT PLANS TO ACQUIRE 85 PERCENT STAKE IN BEIJING CLOUD COMPUTING FIRM FOR 1.15 BILLION YUAN ($182.76 million) VIA CASH, SHARE ISSUE

* SAYS IT PLANS TO RAISE UP TO 580.75 MILLION YUAN IN SHARE PRIVATE PLACEMENT Source text in Chinese: bit.ly/2DSK53x Further company coverage: ($1 = 6.2925 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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