Reuters exclusively reports Weibo chairman, state firm plan to take China’s Twitter private

Reuters exclusively reported that the company’s chairman and a Chinese state investor plan to take China’s answer to Twitter private. Those gains shrunk to just over 6% after the opening bell. A deal could value Weibo at more than $20 billion, facilitate shareholder Alibaba’s exit and see Weibo eventually relist in China to capitalize on higher valuations.

Market Impact

Shares of Weibo Corp surged more than 50% in premarket trading following the Reuters report.

Article Tags
Topics of Interest: Technology
Type: Reuters Best
Sectors: Technology
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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