PEKING (dpa-AFX) - Focus Media Holding Ltd. (FMCN), China 's largest lifestyle targeted out-of-home digital media company, on Friday denied entirely the allegations raised in a research report by Muddy Waters dated January 6.
Focus Media maintained that there were no improprieties involved in the deal alleged in the report. The deal related to the insignificant acquisition of a regional distributor in Jilin Province in northeast China to expand the company's display network, Focus Media noted.
Focus Media said it will release additional information concerning the deal in the early part of the week beginning January 9.
In addition, the company said it will take all necessary legal measures to defend itself against the allegations made by Muddy Waters and to protect the interests of shareholders.
Copyright RTT News/dpa-AFX
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