Buyers take 38% of China data centre firm VNET
What's the deal? VNET GroupDealroom has a profile for this one. Try Dealroom → (NASDAQ: VNET), a Chinese provider of carrier- and cloud-neutral internet data centre services, said on September 21, 2026, that a group of buyers has closed a purchase giving it roughly 38.1% of the company. PJ Millennium I LimitedDealroom has a profile for this one. Try Dealroom → and PJ Millennium II Limited — both owned by PJ Millennium Limited PartnershipDealroom has a profile for this one. Try Dealroom → — acquired 650,424,192 Class A ordinary shares.
The terms: The shares came from Success Flow International Investment LimitedDealroom has a profile for this one. Try Dealroom → and Choice Faith Group Holdings LimitedDealroom has a profile for this one. Try Dealroom →. The stake is based on VNET's 1,708,970,760 ordinary shares outstanding as of June 30, 2026. The deal value was not disclosed.
What changes? Alongside the closing, the buyers and VNET signed an investor rights agreement plus a voting and consortium agreement, both effective immediately. The company frames the move as strengthening corporate governance and its market position.
What VNET does: The company runs hosting, cloud, and business VPN services across more than 30 Chinese cities. It serves over 7,000 enterprise customers, from internet firms and government agencies to blue-chip and smaller companies.
The signal: A large concentrated stake changing hands underscores investor appetite for China's data centre capacity as demand for internet infrastructure climbs. The consortium structure suggests the new holders intend an active role in VNET's direction.
Read more: third-news.com
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