BEIJING, Aug. 16, 2017 /PRNewswire/ -- Baidu, Inc. (the
"Company" or "Baidu") (NASDAQ: BIDU), the leading Chinese language
internet search provider, today announced that an investor
consortium led by the Company ("Buyer Group") had entered into a
share purchase agreement with China United Network Communication
Limited ("China Unicom") (SHA: 600050), one of the largest
telecommunications companies in China. The Buyer Group will invest
RMB7.0 billion in exchange for
privately issued shares of China Unicom. In connection with the
investment, Baidu has entered into a business cooperation agreement
with China Unicom. The investment is part of China Unicom's
mixed-ownership reform pilot-run plan.
About Baidu
Baidu, Inc. is the leading Chinese language Internet search
provider. Baidu aims to make a complex world simpler through
technology. Baidu's ADSs trade on the NASDAQ Global Select Market
under the symbol "BIDU". Currently, ten ADSs represent one Class A
ordinary share.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement. All information provided in this press release is as of
the date of the press release, and Baidu does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
For investor inquiries, please contact:
Sharon Ng
Baidu, Inc.
Tel: +86-10-5992-4958
Email: ir@baidu.com
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SOURCE Baidu, Inc.