Shenzhen property tycoon Wang Zheng made a failed attempt to acquire a stake in TVB before negotiating with its rival ATV, it was disclosed yesterday.
The news came as ATV signed agreements with five mainland-based enterprises to establish strategic partnerships.
Wang, a delegate to the Chinese People's Political Consultative Conference who has lived in Hong Kong for about 20 years, had offered to invest HK$4 billion in TVB after the global financial meltdown.
This was revealed by Sun Wenjie, chairman of the China Overseas Group - one of the strategic partners, at the agreement signing ceremony.
Confirming the news, Wang admitted that he had talks with TVB but failed to reach a deal. He declined to give details. 'The other side was not interested in me. There are different options in investments and one has to consider his own ability and other circumstances,' he said.
Wang said he did not approach ATV because its shareholders had no intention of selling stakes at that time, as it was not long after Taiwanese snack tycoon Tsai Eng-meng had invested in the television station. Tsai, chairman of rice-cracker maker Want Want China, became an ATV shareholder through his company San Want Media last February.