Baidu Pays $160M For 59% Stake In China Group-Buying Co.
The Beijing-based firm, the market leader in the Chinese-language online search industry, will become the majority owner of Nuomi. Renren, a Chinese online social networking platform, will retain a minority stake in the group-buying services firm.
The deal, which is expected to close by the end of 2013, will give Baidu...
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