UPDATE: Muddy Waters Issues Update on Focus Media (FMCN)
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(Updated - January 24, 2013 3:03 PM EST)
Muddy Waters issues new report on Focus Media (Nasdaq: FMCN). Link
"For the record, we believe that Carlyle and the other sponsors’ investors will experience a significant loss on the FMCN transaction if consummated. Why would the transaction proceed in light of all of the issues? Carlyle has certainly had its problems in China, including China Agritech Inc. (OTC: CAGC) and China Forestry Holdings Inc. (0930.HK). In any event, some things cannot be explained – many asked the same question of HP’s acquisition of Autonomy."
Muddy Waters issues new report on Focus Media (Nasdaq: FMCN). Link
"For the record, we believe that Carlyle and the other sponsors’ investors will experience a significant loss on the FMCN transaction if consummated. Why would the transaction proceed in light of all of the issues? Carlyle has certainly had its problems in China, including China Agritech Inc. (OTC: CAGC) and China Forestry Holdings Inc. (0930.HK). In any event, some things cannot be explained – many asked the same question of HP’s acquisition of Autonomy."
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