Rumor: Youku Accelerates Plans to Acquire Tudou

DoNews, 8/11/11

An industry source has revealed that Chinese online video site Youku (NYSE: YOKU) has accelerated plans to acquire rival Tudou, and talks between the two sides are now in the final stage of negotiations.

Another source from the investment field has revealed that Youku began talks with Tudou in April this year, but has accelerated the process at the behest of investors, spurred by rumors that Chinese internet giant Baidu (Nasdaq: BIDU) is also looking to acquire Tudou. Youku is reportedly now in the final phase of negotiation.

Youku CEO Victor Koo was previously quoted as saying he hoped to "keep an open mind" regarding the possibility of a Youku buyout of Tudou.

Keywords: Victor Koo Internet online video Tudou Youku Baidu BIDU YOKU M&A

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