(SOHU) Gives Up Gains After Denying 'Inaccurate Market Rumors'

March 6, 2013 9:18 AM EST
Shares of, Inc. (NASDAQ: SOHU) are giving up yesterday's late session gains after denying rumors it is for sale.

The company said contrary to the assertions in an article published by the South China Morning Post, it is not talking to investment banks and private equity funds about a possible plan to take the company private and/or delist its common stock from the NASDAQ Global Select Market.

"No such discussions are in progress or currently contemplated," confirmed Ms. Carol Yu, Co-President and Chief Financial Officer of Sohu.

After surging 12 percent during Tuesday's session, shares are down 8.5 percent early Wednesday.

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