Asian funds to buy out China's AsiaInfo

China’s CITIC Capital and Singapore’s Temasek Holdings, two of Asia’s biggest state-backed funds, announced plans to buy US-listed software maker AsiaInfo-Linkage (ASIA.NASDAQ) for about US$900 billion, Reuters reported. CITIC and Temasek will pay a 2.8% premium on AsiaInfo’s US$11.80 share price. The company, which makes telecommunication software for companies like China Mobile (CHL.NYSE, 0941.HKG), is one of several Chinese firms during the past two years that have been targeted for buyouts in the face of financial reporting scandals. AsiaInfo has not been the target of any such scandal, but share prices still fell to half their original value by 2011.