Beijing: Baidu Inc’s bid to acquire Joyy Inc’s live-streaming business for China has lapsed, dealing a blow to the search-engine giant’s advances into the digital video arena.
The Beijing-based company said its US$3.6bil deal for Joyy’s YY Live has expired three years after it was unveiled because regulators did not approve the transaction by Dec 31, according to a filing to the exchange yesterday.
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