Baidu’s acquisition of YY’s domestic business officially announced in early November that the domestic live broadcast team was assigned to Baidu

  Original title: Exclusive|Baidu’s acquisition of YY’s domestic business was officially announced in early November, and the domestic live broadcast team was assigned to Baidu

   October 26, the Beijing News Shell Finance reporter from multiple sources The person familiar with the matter was informed that Baidu’s negotiation of acquiring YY’s domestic business has been completed, and it was officially announced in early November. After the merger, the YY client will continue to be retained, the content and technology will be provided to Baidu simultaneously, and the domestic live broadcast team will also be assigned to Baidu. One of the people familiar with the matter told a Shell Financial reporter, “The transaction price is between US$3 billion and US$4 billion, which is a price that satisfies Huanju Group.” Huanju Group’s overseas business and YY overseas business are not within the scope of this transaction.

   In response to this news, Huanju Group, the parent company of YY, declined to comment. As of press time, Baidu has not yet responded.

   Last Friday, an employee of Huanju Group broke the news that YY was going to sell to Baidu. Affected by this rumor, YY stock price rose more than 10% before the market on Friday. As of Friday’s close, YY’s stock price was $85.13, up 5.22%, and its market value reached $6.879 billion.

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