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LeTV Shares Resume Trading
December 09, 2014
Listed Mainland streaming video service LeTV has announced the resumption in trading of its shares following a previous halt in trading on October 27 due to a 10 percent slide in share price within two weeks. The earlier halt in trading happened amid swirling rumors that the company’s CEO, Jia Yueting had left the country to avoid the fallout of a corruption probe into a number of LeTV’s early investors. Mr. Jia was seen recently back in China.
At the same time Jia Yueting's sister, Jia Yuefang, has announced that she will sell off her stocks (about 4.3 percent of outstanding shares) in LeTV Online and then lend the proceeds to the company as working capital.
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