Reuters: Technology News: Baidu plans to buy stake in NetDragon unit for $1 billion

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Baidu plans to buy stake in NetDragon unit for $1 billion Jul 16th 2013, 01:09 Tweet Share this Email Print Related News Trade in ZTE Hong Kong shares suspended over share option scheme Sun, Jul 14 2013 UPDATE 2-Chow Tai Fook shares jump on 'gold rush' revenue boost Wed, Jul 10 2013 Chow Tai Fook Jewellery shares jump on Q1 revenue Tue, Jul 9 2013 Hong Kong shares may return from holiday lower on China PMIs Mon, Jul 1 2013 China Gas posts 85 pct rise in full-year net profit Wed, Jun 26 2013 Analysis & Opinion Where in Hong Kong is Mr. Snowden? The company logo of Baidu can be seen on its headquarters located in Beijing March 24, 2010. Credit: Reuters/David Gray HONG KONG | Mon Jul 15, 2013 9:09pm EDT HONG KONG (Reuters) - Chinese search engine giant Baidu Inc plans to buy a majority stake in NetDragon Websoft Inc's subsidiary 91 Wireless for $1.09 billion, NetDragon said on Tuesday. 91 Wireless will also be spun off and listed on Hong Kong's secondary Growth Enterprise Market, NetDragon said in a statement on the Hong Kong stock exchange. For a copy of the statement, please click: here (Reporting by Twinnie Siu and Lee Chyen Yee; editing by Miral Fahmy) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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