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Baidu terminates $3.6-B purchase of JOYYS

Baidu terminates $3.6-B purchase of JOYYS
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Hong Kong , Linc China , World Artificial Intelligence Conference , China July ,

Baidu terminates $3.6 billion purchase of JOYY's China live-streaming unit

The failure of the deal casts a shadow on search engine giant Baidu s ambition to diversify its revenue. The company proposed to acquire JOYY s video-based entertainment live streaming business in China, known as YY Live, in 2020. ....

Hong Kong , Linc China , World News ,

Baidu terminates $3.6 billion purchase of JOYY's China live-streaming unit

HONG KONG (Reuters) -Baidu has terminated its planned $3.6 billion acquisition of Nasdaq-listed JOYY Inc's China live-streaming business, the company said on Monday in a filing with the Hong Kong stock exchange. The failure of the deal casts a shadow on search engine giant Baidu's ambition to diversify its revenue. The company proposed to acquire JOYY's video-based entertainment live streaming business in China, known as YY Live, in 2020. ....

Hong Kong , Jan Harvey , Linc China , Summer Zhen , Hong Kong Stock Exchange ,