0402 GMT - The completion of Baidu's YY Live acquisition is a relief after an extended delay, Citi analysts say in a research note. Baidu said back in 2020 that it had entered into definitive agreements with JOYY to acquire its video-based entertainment live-streaming business in China. The completion of the acquisition indicates a resolution to a long unresolved situation, Citi says. The release of US$1.6 billion in cash from escrow is positive for Baidu, especially given that the tech giant plans to invest the funds in its cloud and AI infrastructure, the bank says. Baidu's H-shares are 2.3% higher at HK$88.00. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
February 25, 2025 23:02 ET (04:02 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。