Chinese internet company reports bribery investigation

ChinaCache International Holdings Ltd., an internet content and applications delivery company based in China, reported in a securities filing that it had received notice from the Beijing government prosecutors’ office that the company is under investigation for bribery.  The company’s announcement also stated that its chairman and chief executive officer, Song Wang, had been arrested and is under investigation for bribery.  The company indicated that it plans to hire outside counsel to conduct an internal investigation of the allegations.

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