SOURCE: Tsinghua Unigroup
BEIJING, CHINA--(Marketwired - Dec 17, 2013) - Tsinghua Unigroup Ltd. ("Tsinghua Unigroup" or "we"), an operating subsidiary of Tsinghua Holdings Co., Ltd., a solely state-owned limited liability corporation funded by Tsinghua University in China, today provided the following comments regarding certain management changes announced by RDA Microelectronics, Inc. ("RDA") on December 17, 2013.
We noted that RDA's board of directors has elected Mr. Shun Lam Steven Tang as RDA's new chairman and appointed Mr. Shuran Wei as its new chief executive officer and Mr. Liang Zhang as its president. In response to certain inquiries that we have received regarding such changes, we would like to confirm that Tsinghua Unigroup will continue to honor the legally binding merger agreement among Tsinghua Unigroup, RDA Acquisition Limited, a subsidiary of us, and RDA dated November 11, 2013. We are working closely with RDA in closing the announced merger between Tsinghua Unigroup and RDA, including applying for and obtaining all the required regulatory approvals.
About Tsinghua Unigroup
Tsinghua Unigroup Ltd. is an operating subsidiary of Tsinghua Holdings Co., Ltd., a solely state-owned limited liability corporation funded by Tsinghua University in China. Tsinghua Holdings Co., Ltd. is the controlling shareholder of Tsinghua Unigroup. The other shareholder is Beijing Jiankun Investment Group Co. Ltd. Tsinghua Unigroup's business lines include high-technology, bio-technology, science park development, and urban infrastructure construction.