NetEase (NTES) Said Looking to Spin-off News Unit

September 13, 2016 7:29 AM EDT

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NetEase (NASDAQ: NTES) shares are on watch amid news that the company might look to spin its news operations in an effort to raise $300 million.

Bloomberg noted that NetEase could conduct an IPO of the unit or an outright sale. The company is said to be in talks with potential buyers and the spinoff is in the early planning stage.

Shares of NetEase are lower early Tuesday following an 8 percent move higher on Monday's session.

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