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Google Inc. has sold its roughly 2 percent stake in rival Baidu.com Inc., the market leader in China's Internet Web search market, according to a U.S. regulatory filing.
"We have disposed of our modest investment in Baidu," Google spokeswoman Debbie Frost confirmed. "It has always been our goal to grow our own successful business in China and we are very focused on that," she said in an e-mailed statement.
Google sells stake in rival Baidu [today.reuters.com]