BBMF Forms Alliance with CDC Mobile
CDC Mobile announced it has entered into a letter of intent to make a strategic investment in BBMF Group Inc, a leading 3G content provider in Japan. This will be the first of CDC Mobile’s targeted investments through its recently announced US$100 million 3G Content Partner Program designed to provide first-mover advantage in the anticipated 3G content market in China. Under the letter of intent, CDC Mobile intend to invest US$20 million in convertible bonds issued by BBMF Group Inc. and the two companies would form a strategic alliance in operations to jointly target 3G markets in Japan and China.
