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Google drops its stake in Baidu

Posted on Monday, June 26 2006 @ 02:01:51 CEST by

BBC writes Google has disposed its 2.6 percent holding in Baidu last week: blockquote>According to US regulatory documents, Google made a substantial profit on its investment in Baidu.

It sold its holding for more than $60m, having acquired the shares for just $5m last year.

Baidu's shares were valued at $27 each when the firm floated last year and are currently trading at about $80 each.



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