Youku (YOKU) Rumored To Be In Talks With Tencent About an Investment, Shares Surge
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In addition to Youku (NYSE: YOKU) seeing action ahead of the IPO of rival Tudou Holdings (Nasdaq: TUDO), there are rumors Tencent is in talks with the company about a a potential investment. Marbridge Consulting, which first reported the rumors, said a Youku spokesperson could not confirm reports of talks with Tencent, by said it is engaged in talks with a number of industry players.
Shares of YOKU are up 18%.
The IPO for Tudou is expected to open at 10:40AM ET.
Shares of YOKU are up 18%.
The IPO for Tudou is expected to open at 10:40AM ET.
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