Baidu Buys Majority Stake In Travel Site For $306M

Law360, New York (June 24, 2011, 12:56 PM EDT) -- Chinese search engine Baidu Inc. said Friday that it had reached a deal to buy a controlling interest in travel website for $306 million.

Already the dominant search engine in China, especially since Google Inc. pulled out of the country in 2010 amid complaints of censorship, Baidu has been looking for way to compete in other online arenas, including Internet video and e-shopping. The company said the deal with Qunar furthers that goal.

"Travel has long been one of the top categories on Baidu, and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.