Baidu eyes Nuomi
Source: Agencies |
August 24, 2013, Saturday
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Print Edition
Print Edition
Baidu Inc will acquire a stake in Chinese group-buying website Nuomi Holdings Inc for US$160 million as it accelerates its push into the country’s rapidly growing mobile Internet market. Baidu will buy newly issued ordinary shares of Nuomi, a wholly-owned subsidiary of social network company Renren Inc, representing about a 59 percent stake, it said yesterday.
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