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Baidu terminates $3.6 billion purchase of JOYY's China live-streaming unit

HONG KONG (Reuters) -Baidu has terminated its planned $3.6 billion acquisition of Nasdaq-listed JOYY Inc's China live-streaming business, the company said on Monday in a filing with the Hong Kong stock exchange. The failure of the deal casts a shadow on search engine giant Baidu's ambition to diversify its revenue. The company proposed to acquire JOYY's video-based entertainment live streaming business in China, known as YY Live, in 2020.
Hong Kong Jan Harvey Linc China Summer Zhen Hong Kong Stock Exchange
Source: yahoo.com

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