Chinese consortium buys 49% stake in UK data firm
By Cecily Liu in London | China Daily | Updated: 2016-12-23 07:29
A Chinese consortium has bought a 49 percent stake in British data center company Global Switch for 2.5 billion pounds ($3.09 billion), in a strategic move aimed at sharing data center technology and locations.
The consortium was set up by data center company Daily-Tech Beijing, although the majority of the funding comes from Jiangsu Shagang Group, China's largest private steelmaker.
Wednesday's deal came as Chinese and Western companies expand into each other's markets, creating a big demand to store data in international locations.
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