QXMQiao Xing Mobile Communication (stock symbol)
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The proposed transaction, if completed, would result in QXM becoming a privately-held company.
QXM said that its board of directors has established a committee consisting solely of independent and disinterested to, among other things, evaluate whether the proposed transaction is in the best interests of the company and whether it is fair and equitable to the minority shareholders.
XING has requested QXM to respond to its proposal by 17 September 2010 and indicated that it is not interested in selling its position in the company to a third party at this time.