Marbridge Daily

<- January 25, 2011 ->

Kingsoft CEO Denies Rumors of Baidu, Tencent Capital Injection

China Business News, 1/25/11

Fu Sheng, CEO of Kingsoft (3888.HK) subsidiary Kingsoft Network Technology, yesterday denied rumors Tencent (0700.HK) and Baidu (Nasdaq: BIDU) were making a joint investment in the company. Fu denied having heard anything about the matter, though he did allow that Baidu had used Kingsoft Network Technology's open-source online security technology in its own antivirus product.

Tencent said yesterday that it had forbidden its 13,000 employees from installing Chinese online security software developer Qihoo 360's products. Some employees have reported being unable to browse to the Qihoo 360 homepage.

Editor's Note: For more background on this topic, please see "Rumor: Baidu Forbids Employee Use of Qihoo 360 Products" MD 1/24/11 issue.

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