Alibaba, Tencent put talks with Baidu to buy iQIYI stake on hold: Report
Alibaba and Tencent have put their individual discussions with Baidu for acquiring a controlling stake in video streaming service iQIYI on hold, Reuters reported. The discussions have been stalled over a $20-billion valuation demanded by Baidu, and have little chances of resuming. Tencent believes the company is worth about half of what Baidu wants, sources told Reuters.