Google drops its stake in Baidu

Posted on Monday, Jun 26 2006 @ 02:01 CEST by Thomas De Maesschalck
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.


About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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