Youku (YOKU), Tudou (TUDO) Shares Lower Amid Rumor Merger May Be Called Off
Tweet Send to a FriendGet Alerts YOKU Hot Sheet
Up)
Trade YOKU Now!
Shares of Youku (Nasdaq: YOKU) and Tudou (Nasdaq: TUDO) are continuing lower Wednesday as Chinese business news website Yicai.com is speculating on the likelihood of the merger between the two being completed.
The rumor follows reports Tudou's COO left the company recently. Adding to the skepticism about the merger, the Yicai story suggests a number of Tudou executives will be leaving the company soon.
Youku shares are down about 5 percent Wednesday afternoon and nearly 10 percent so far this week. Shares of Tudou are down about 7 percent at last check and fell 5 percent on Tuesday.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The rumor follows reports Tudou's COO left the company recently. Adding to the skepticism about the merger, the Yicai story suggests a number of Tudou executives will be leaving the company soon.
Youku shares are down about 5 percent Wednesday afternoon and nearly 10 percent so far this week. Shares of Tudou are down about 7 percent at last check and fell 5 percent on Tuesday.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Viropharma, Inc. (VPHM) Said to Attract Acquisition Interest - Reuters
- Moneygram (MGI) Higher on Potential Sale
- Microsoft (MSFT) and Nokia (NOK) Talks Recently Broke Down Over Device Unit
Create E-mail Alert Related Categories
Mergers and Acquisitions, Rumors
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
