Marbridge Daily

<- March 26, 2014 ->

Rumor: Tencent to Take 20% Stake in Youku Tudou

Netease Tech, 3/26/14

A source close to Chinese online video site operator Youku Tudou (NYSE: YOKU) has revealed that internet and mobile services firm Tencent (0700.HK) has reached a tentative agreement with Youku Tudou to purchase a 20% stake in the company for a consideration of at least USD 300 mln in cash and the injection of Tencent's online video business into Youku Tudou. The two parties will reportedly announce the partnership at the end of this month.

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