VNET Group jumps on buyout offer

VNET

11/04/2022 15:00

** Shares of VNET Group Inc  VNET.O  up 28% at $6.9 in early
trading - set to snap four straight sessions of decline
    ** Internet data center services provider VNET receives a
buyout offer from The Hina Group and Industrial Bank Co Ltd,
Shanghai Branch  urn:newsml:reuters.com:*:nPn4cVzYqa
    ** Says The Hina Group will acquire all of the outstanding
shares of co for $8 in cash per ADS, or about $1.33/share
    ** Stock down ~32% YTD

    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))