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Google sells stake in rival Baidu

     
5:57 pm on Jun 22, 2006 (gmt 0)

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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]

1:53 am on June 23, 2006 (gmt 0)

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Whatever google will do, they are two supermen here in the Mainland. Competition, as well, cooperation will exist between them for a long term. Sometimes, it's hard to define whether they are rival or friend, maybe they are brothers? :D
1:18 pm on June 23, 2006 (gmt 0)

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redstorm

could you care to share even 1 bit of co-operation that has EVER taken place between Baidu and Google, even before they sold the 2%

?

Shak

4:21 pm on June 23, 2006 (gmt 0)

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Owning a two percent ownership in Baidu is cooperation in itself. When you have a sizable ownership share, you have voting power and, essentially, an obligation to provide input on major decisions (assuming you want to see your investment grow favorably).
7:17 am on June 27, 2006 (gmt 0)

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Quite clear, Google takes acion now. At the beginning Google planned to buy Baidu, now it changes to compete against it.