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BEIJING, Jan 3 — Chinese internet giant Baidu has said it was cancelling the planned multi-billion-dollar purchase of livestreaming platform YY Live, partly blaming its...
Baidu affiliate Moon SPV Ltd terminated the share purchase agreement with JOYY because the conditions of closing the deal it provided for "had not been fully satisfied" as of the end of 2023, Baidu said in an exchange filing on Monday.
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.