China: 500.com acquires 51% stake in Qufan for $16m

China: 500.com acquires 51% stake in Qufan for $16m

A Benjamin Franklin U.S. 100-dollar banknote and a Chinese 100-yuan banknote depicting the late Chinese Chairman Mao Zedong, are seen in a picture illustration in Beijing

China-based online sports lottery service provider 500.com Limited has acquired 51 per ent equity interest in Qufan, an operator of mobile social poker games, owned by Qufan Internet Technology Inc and Shenzhen Qufan Internet Technology Co Ltd.

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