Baidu investor criticizes proposed sale of video unit to CEO

Baidu Inc's planned sale of online video unit iQiyi to its own chief executive is priced too low and will damage its reputation, an investor in the Chinese internet company said. In February, Baidu received an offer for its 80.5 percent stake in iQiyi from Robin Li and Yu Gong, the chief executives of Baidu and iQiyi, respectively. The offer valued the whole of iQiyi, China's second-biggest online video provider, at $2.8 billion on a cash- and debt-free basis.

Original story here.

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