Baidu has terminated its planned $3.6 billion acquisition of JOYY Inc's China live-streaming business, signaling the end of its bid to acquire Joyy's live-streaming business. The deal expired as China regulators didn't approve it by December 31, causing Baidu's shares to gain up to 3.3% in HK after the termination. The cancellation was partly blamed on the inability to get government approval, impacting Baidu's plans for the digital video arena and its AI ambitions.
Billionaire Robin Li’s Baidu has scrapped its three-year-long bid to acquire Joyy’s Chinese live-streaming platform, YY Live, for $3.6 billion in cash, as regulators maintain a chokehold on the country’s online entertainment sector. https://t.co/9Yqm0Ub2cM
Baidu’s live streaming plans suffer as it calls off $3.6 billion Joyy deal https://t.co/HaFTPCX1LL via @CNNBusiness
Baidu’s termination of YY Live acquisition a boon to AI ambitions, analysts say https://t.co/T5y4HGtdLa via @scmpnews
$YY (-10.7% pre) $BIDU Baidu abandons $3.6B deal for JOYY's China live-streaming business - SA https://t.co/HktI32ow58
#Baidu walks away from big money streaming buy https://t.co/KzQO5Cudi7
Termination of acquisition of #JOYY's live-streaming business is positive for #Baidu, to increase its core net cash to reinvest in AI - Morgan Stanley https://t.co/haGgRmRhhd https://t.co/4NGeo2MVGa
Baidu terminates $3.6 billion deal to acquire YY Live https://t.co/KhAuocuk45
Chinese internet giant Baidu has said it was cancelling the planned multi-billion-dollar purchase of livestreaming platform YY Live, partly blaming its inability to get government approval. ➡️ https://t.co/B5nulytZfF https://t.co/9TpCQlvwCT
Baidu cancels US$3.6b acquisition of Joyy’s livestreaming unit https://t.co/sPMZi3QPX6
China’s Baidu cancels $3.6 bn purchase of livestreaming site https://t.co/GFILlaIJy3
Delivery conditions have not been fully met, @Baidu_Inc terminates the $3.6 billion #acquisition of #YYLive. $BIDU $YY https://t.co/g5koj1ttpk
Baidu cancels $3.6b acquisition of Joyy’s livestreaming unit https://t.co/th27DWJHZN
News at Baidu, Inc.! 🚫🔄 On Jan 1, Baidu's Moon SPV Limited terminated the Share Purchase Agreement with Baidu (Hong Kong) Limited, JOYY Inc. (“JOYY”), and others, signaling the end of the acquisition of YY Live. #china #technology #Baidu #TechNews #YYLive #BusinessUpdates 🌐 https://t.co/5ngm0sBpDN
Baidu scraps $3.6 bln deal for JOYY's China live-streaming unit https://t.co/o4A0niAfF0
Chinese tech giant #Baidu's shares gained up to 3.3% in HK after it terminated the share purchase agreement with Nasdaq-listed #Joyy, canceling a deal worth $3.6 bn. https://t.co/haGgRmRP6L https://t.co/ko8rfXmtOo
China’s Baidu backs out of $3.6B acquisition of livestreaming platform provider Joyy https://t.co/KmIwJkD80Q
Baidu Terminates $3.6B Deal to Buy JOYY’s China Live-Streaming Business https://t.co/VQlFACYrot
Baidu terminates $3.6 bln purchase of JOYY's China live-streaming unit https://t.co/Z7HHEgY8px https://t.co/0uVua20kwN
Baidu terminates $3.6 billion purchase of JOYY's China live-streaming unit Baidu has terminated its planned $3.6 billion acquisition of JOYY Inc's China live-streaming business, the company said on Monday in a filing with the Hong Kong stock exchange. https://t.co/ONrGw1mWhx
Filing: Baidu's $3.6B deal to buy Joyy's Chinese livestreaming business YY Live, announced in 2020, expires as China regulators didn't approve it by December 31 (Bloomberg) https://t.co/brD0thvEL8 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/9wbx61TCGd
Baidu terminates purchase of JOYY's live streaming business https://t.co/zyLxVQoimX https://t.co/feYKxCxZt0
Baidu’s bid to acquire Joyy’s live-streaming business for China has lapsed, dealing a blow to the search engine giant’s advances into the digital video arena https://t.co/SpHQHuNRa5