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International Business Times
International Business Times
Business
AFP News

China's Baidu Cancels $3.6 Bn Purchase Of Livestreaming Site

Baidu China Internet
Baidu said it had not yet received government approval for the purchase of YY Live (Credit: AFP)

Chinese internet giant Baidu has said it was cancelling the planned multi-billion-dollar purchase of livestreaming platform YY Live, partly blaming its inability to get government approval.

Baidu, the country's top search engine company, agreed in 2020 to buy JOYY Inc's Chinese live video business YY Live for $3.6 billion.

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