By Robb M. Stewart Weibo Corp. s chairman refuted a report he was in talks with a state investor to take the Nasdaq-listed Chinese social-media company private. Weibo on Tuesday said Chairman Charles Chao informed the company the media report was untrue and he has had no discussion with anyone regarding the privatization of Weibo. In early trading, Weibo s shares were 11% higher at $60.10, having earlier hit a high of $62.76. They are up almost 50% since the end of last year. Earlier, Reuters reported that Mr. Chao, whose holding company New Wave is the largest Weibo stakeholder, is teaming up with a Shanghai-based state company to form a consortium for a deal that could value Weibo at $20 billion-plus and could facilitate an exit from major shareholder Alibaba Group Holding Ltd.
EXCLUSIVE Weibo chairman and state firm plan to take China s Twitter private -sources
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Weibo corporation (WB) Stock News and Forecast: Chairman denies talk of privatization
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Weibo Chairman Denies Talks to Take Company Private
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