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Alibaba, Tencent put talks with Baidu to buy iQIYI stake on hold: Report
short by Aishwarya Awasthi / on Friday, 27 November, 2020
Alibaba and Tencent have put their individual discussions with Baidu for acquiring a controlling stake in video streaming service iQIYI on hold, Reuters reported. The discussions have been stalled over a $20-billion valuation demanded by Baidu, and have little chances of resuming. Tencent believes the company is worth about half of what Baidu wants, sources told Reuters.
read more at Reuters