Last December, a consortium of companies from China and Singapore bought a 49 percent stake in London-based Global Switch, the world’s second-largest wholesale data center provider, from the UK’s famous billionaires David and Simon Reuben for £2.4 billion.


The consortium, called Elegant Jubilee, was put together by Li Qiang, a Chinese telecommunications and internet entrepreneur who holds a stake in the Chinese data center provider Daily-Tech Beijing. Investors in the consortium include China’s largest privately owned steel company, Jiangsu Sha Steel Group, Singapore-based asset manager AVIC Trust, as well as institutional investors Essence Financial and Ping An Group.

Earlier this year, Bank of China got involved in Global Switch, joining a group of European banks in providing the data center company with a £425 million credit facility.