Google Offloads Baidu Investment
Via The BBC.
Google has sold its stake in rival Chinese internet search firm Baidu.com.More here.
The US company confirmed that it had disposed of its 2.6% holding in Baidu - acquired before the latter's 2005 stock market flotation - on Wednesday.
Baidu is the leading web search firm in China, a market in which Google lags behind the domestic provider.
Analysts always saw Google's purchase of Baidu shares as a strategic move and Google said it now wanted to focus on its own Chinese business.
posted by Fergie @ 6/23/2006 07:50:00 AM
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