RCRRF - 51job gains on report of talks with regulatory on data security issues

51job Inc. (NASDAQ:JOBS) rose 3% after a report that buyer consortium is talking to regulators on issues concerning data security and privacy. The buyer consortium isn't looking for specific approval for regulators, but is engaging with authorities as the regulator environment has gotten tougher, according to a Dealreporter item earlier. The story also said the deal doesn't need SAMR approval, disputing a report from earlier this month. The main members of the buyer group, 51job CEO Rick Yan, DCP, Ocean Link and Recruit (OTCPK:RCRRF) are still committed to the $79.50/share purchase, though the timeline is unclear, Dealreporter said. The report comes after JOBS plunged almost 20% on Nov. 8 after the Chinese online recruitment firm said the buyer consortium formed to acquire the company has been in talks with regulators on recent regulatory changes that may impact the transaction. In June, 51job agreed to a going-private transaction with Garnet Faith for $79.05/share, implying an equity

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51job gains on report of talks with regulatory on data security issues