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After 20 years on Nasdaq, China's Sina wants out

CEO makes push to take company behind Weibo private amid US tensions

Sina Chairman and CEO Charles Chao visits the Nasdaq in April 2014 on the first day of trading for spinoff Weibo.   © Reuters

NEW YORK -- Sina, the Nasdaq-listed Chinese company behind the Twitter-like service Weibo, has received a proposal from an entity led by Chairman and CEO Charles Chao to take the business private after 20 years on the U.S. exchange.

The preliminary, nonbinding proposal offers to acquire all outstanding ordinary shares not already owned by the buyer, at $41 apiece, Sina said in a Monday filing.

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