Shandong Hi-Speed completed the acquisition of a 42.1% stake in VNET Group for $299m.

Shandong Hi-Speed, a capital investment company, completed the acquisition of a 42.1% stake in VNET Group, a carrier- and cloud-neutral internet data center services provider, for $299m. "We are pleased to welcome this strategic investment from SDHG, which stands as a powerful endorsement of VNET's leading competitiveness and unique value proposition in the IDC industry. Their investment will further strengthen our balance sheet and fuel innovation as we will cooperatively explore new opportunities in renewable energies with them going forward. As the digital economy develops and expands, VNET will remain dedicated to offering reliable and scalable IDC services, addressing customers' evolving demands and delivering long-term value to all of our stakeholders," Josh Sheng Chen, VNET Group Board of Directors.