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.
Reuters exclusively reports Weibo chairman, state firm plan to take China’s Twitter private
06 July 2021, 2:21 pm. 1 minute
Shares of Weibo Corp surged more than 50% in premarket trading following the Reuters report.
Topics of Interest: Technology
Type: Reuters Best
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story