China's business press carried the following stories on Tuesday. China.org.cn has not checked the stories and does not vouch for their accuracy.

Diageo to become controlling shareholder of Shui Jing Fang -- China Securities Journal

U.S.-based Diageo Highlands Holdings B.V. will become the indirect controlling shareholder of Sichuan Shui Jing Fang Company Ltd., China's fourth largest white spirits producer, according to a statement of Shui Jing Fang (stock code: 600779) on Monday.

Diageo is the world's largest spirits, beer and wine company and owns some of the most popular alcohol brands, including Johnnie Walker whiskey, Smirnoff vodka, Bailey's Irish Cream, Cuervo tequila and Captain Morgan rum. The company entered the Chinese market in 1995. Diageo made significant progress in 2007 by acquiring a 43-percent-stake in Sichuan Chengdu Quanxing.

On March 1, Diageo acquired an additional 4-percent-stake in Quanxing, bringing its shareholding in the company to a controlling 53 percent. As Quanxing controls a 39.7-percent-stake in Shui Jing Fang, Diageo would be the indirect controlling shareholder of Shui Jing Fang if the share transfer is approved by relevant authorities.

Ping An, SDB denies delisting report -- China Securities Journal

Ping An Insurance (Group) Co. and Shenzhen Development Bank (SDB) Tuesday both denied in separate statements a media report saying that the insurer's acquisition of SDB has received government approval, and that the insurer may delist SDB and merge it with its subsidiary Ping An Bank.

Ping An, the world's second largest life insurer, announced last year that it would increase its stake in SDB from the previous 5 percent to 30 percent. The deal is still awaiting approval from China Banking Regulatory Commission, China Insurance Regulatory Commission and China Securities Regulatory Commission, according to both statements.

However, some analysts believe that the deal will be approved soon and may achieve a periodical result before the end of April.

An Economic Observer report over the weekend cited Ping An's vice president Sun Jianyi as saying that China's State Council has approved Ping An's stake increase plan in SDB. The report said the insurer will delist SDB and merge it with its banking unit, citing some unnamed sources.

Because of the report, SDB's share was suspended from trading on Monday.

Shanghai Telecom to launch first Blackberry in mid-March -- Oriental Morning Post

China Telecom will launch its first Blackberry handset in Shanghai by mid-March, the Oriental Morning Post reported on Tuesday, citing sources at China Telecom's Shanghai branch.

According to the source, during the initial phase of Blackberry's commercial trial, there is only one handset model and it's only available to enterprise users. However, Shanghai Telecom will launch three more new blackberry models and they will be open to individual users.

The first Blackberry handset to be launched will be the 9530. The 9550, 9630 and 9650 will all be released in the second half of this year.

China Telecom's Blackberry business will be targeting enterprise users from the industries of telecommunications, IT, energy, finance, civil aviation, logistics, media, legal and accounting during the commercial trial.

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