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Dangdang CEO Confirms Acquisition Rumor

Sina Tech, 6/15/09

Li Guoqing, CEO of Chinese online retailer Dangdang, has addressed acquisition rumors, saying that that the rumors are not completely unfounded, but adding that the company courting Dangdang is not rival B2C e-commerce firm Joyo-Amazon, but another rival that has been the company's competitor for five years.

Industry rumors today say Dangdang will be acquired by an overseas investment firm. Spokespeople for both Joyo-Amazon and Taobao have said they are unaware of any plans to acquire Dangdang.

Editor's Note: Li Guoqing denied acquisition rumors in May. Please see "Dangdang Realizes Profitability, Denies Acquisition Rumors, MD, 5/31/09 issue.

Keywords: M&A Amazon B2C Dangdang e-commerce Internet Joyo Li Guoqing Taobao B2C

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