Reuters reveals Baidu in talks to sell majority stake in iQIYI, China's answer to Netflix - Reuters News Agency
Deals

Reuters reveals Baidu in talks to sell majority stake in iQIYI, China’s answer to Netflix

Reuters was first to report that China’s internet search engine giant Baidu is in talks to sell its controlling stake in iQIYI, China’s answer to Netflix, in a deal that could value all of iQIYI at about $7 billion. Baidu, which owns 53% of iQIYI and holds more than 90% of its shareholder voting rights, plans to sell all its holdings in the Chinese video streaming services firm. 

Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Business & Finance
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
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