Consortium withdraws $2.3bn iQiyi offer
A consortium led by the boss of Chinese search conglom Baidu has dropped its US$2.3 billion offer to acquire 80.5% of compatriot on-demand player iQiyi. Baidu chairman and CEO Robin Yanhong Li and Qiyi.com chief exec Yu Gong fronted a special committee’s offer to acquire the business from Baidu back in February. They have now […]