iFeng Tech, 8/17/11
According to reliable industry sources, Tencent (0700.HK) is currently in talks with senior executives at Youku (NYSE: YOKU) regarding an investment in the online video site. According to the plans being discussed, Tencent would receive a stake in Youku, and would entrust its online video services to the company. The source said that strategic talks between the two companies had been ongoing for some time.
As of press time, neither company would comment on the rumor.
Editor's Note: A Youku spokesperson told Marbridge Consulting that while they could not confirm reports of talks with Tencent, Youku is engaged in talks with a number of industry players.