Form 6-K Baidu, Inc. For: Feb 17
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Moody's Sees Baidu's (BIDU) Potential Qiyi Sale as Credit-Positive Development
February 18, 2016 8:53 AM ESTMoody's Investors Service says Baidu Inc.'s (A3 positive)(Nasdaq: BIDU) potential sale of its 80.5% stake in Qiyi (unrated) -- if completed -- is credit positive, because it will lower Baidu's investment and improve its profitability while retaining strategic benefits.
On 12 February, Baidu announced that it had received a non-binding proposal from Mr. Robin Yanhong Li, the chairman and chief executive officer of Baidu, and Mr. Yu Gong, the chief executive officer of Qiyi.com, Inc., to acquire all outstanding shares of Qiyi beneficially owned by Baidu -- based on an enterprise... More
