Chinese state-owned Xinhua News Agency, operated by Xinhua News Media Holdings (HKG:0309), signed a memorandum of understanding for the coverage of U.K. Prime Minister Keir Starmer's visit to the country, Xinhua reported Saturday.
Xinhua New Media's shares dropped 5% during Monday's midday trade.
The deal was signed with U.K.-based Brand Finance, the report said.
The parties will collaborate and exchange information, personnel and research related to the event, the report said.
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