Joyy (YY) announced that it entered into agreements with Baidu (BIDU) with respect to the sale of the video-based entertainment live streaming business in mainland China previously owned by the company, known as YY Live, for an aggregate purchase price of approximately $2.1B in cash. The company previously received approximately $1.86B in February 2021, and, on February 25, the company received additional cash consideration of approximately $240M.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on YY: