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Baidu, which owns 53% of iQIYI and holds more than 90% of its shareholder voting rights, plans to sell all its holdings in the Chinese video streaming<\/a> services firm, said those two people and another two sources familiar with the matter.
Nasdaq-listed iQIYI has a market value of $4 billion. Baidu's targeted valuation of $7 billion for the whole company in its divestment would represent a price of about $8.13 per share compared with its latest close of $4.67.
The four people with knowledge of the plan declined to be identified due to confidentiality constraints.
The divestment plan, not previously disclosed by Baidu, comes after the firm deemed iQIYI to be a non-core asset, and as it seeks to sharpen its focus on developing its capital-intensive artificial intelligence and autonomous driving units, said the first two sources.
Baidu, whose businesses range from internet search to electric vehicles, with expansion into cloud services, robotaxis and autonomous driving in recent years, has tapped Bank of America to work on the potential sale, said the second pair of sources.
Baidu didn't respond to a request for comment, while Bank of America did not offer any immediate comment.
\"This is purely market rumour,\" iQIYI said in an emailed statement to Reuters, without providing further comment.
The stake sale plan drawn up by Baidu, worth nearly $50 billion by market value, comes against the backdrop of China's regulatory crackdown since late 2020 on firms from technology, private education and other sectors, which hammered their shares and forced some to scale back expansion in non-core areas.
The iQIYI stake has drawn initial interest from a number of financial sponsors and state-owned companies, said three of the four sources, with Hong Kong-based private equity firm PAG among them.
China Mobile<\/a>, the world's largest mobile network operator by subscribers and owner of streaming service Migu Video, is also among potential buyers, two of the people with knowledge of the matter said.
PAG declined to comment. China Mobile did not respond to a request for comment.
If Baidu achieves its valuation target, that would represent a premium of more than 100% to iQIYI's average share price over the past three months of $3.97. The streaming firm's shares have lost 70% in the past 12 months amid a broader sell-off in Chinese tech shares.
Terms of the deal have not yet been finalised and are subject to change, the sources said.
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中国在谈判出售的百度视频公司的多数股权iQIYI:来源
百度拥有53%的iQIYI和持有超过90%的股东投票权,计划出售其持有的中国视频流服务公司说这两人和另两个知情人士。
由朱朱莉和凯恩
香港:中国的互联网搜索引擎巨头百度公司正在洽谈出售其控股权iQIYI公司Netflix,中国的答案,在一个协议,所有iQIYI价值约为70亿美元,两位知情人士说。
百度拥有53%的iQIYI和持有超过90%的股东投票权,计划出售其持有的中国流媒体视频服务公司表示,这两个人和两个知情人士。
在纳斯达克上市的iQIYI市值为40亿美元。百度的目标估值70亿美元的整个公司的撤资将代表约每股8.13美元的价格相比,其最新的4.67美元。
四个计划的知情人士拒绝透露姓名由于保密的限制。
减持计划,而不是之前披露的百度,此前该公司认为iQIYI非核心资产,当它寻求加强其重点发展资本密集型的人工智能和自动驾驶单位,前两个消息来源说。
百度的业务范围从互联网搜索到电动汽车,向云服务与扩张,robotaxis和近年来自主驾驶,有了美国银行潜在的销售,第二条消息人士说。
百度没有回应记者的置评请求,而美国银行没有立即置评。
“这是纯粹的市场传闻,”iQIYI路透社在一份电邮声明中说,未提供进一步的评论。
股权出售计划由百度,价值近500亿美元市值的背景是中国的监管行动自2020年末以来,公司从技术、私人教育和其他领域,即打击他们的股票,并迫使一些缩减在非核心领域扩张。
iQIYI股份了最初的兴趣从多个金融赞助商和国有企业,三四个来源,说香港私人股本公司PAG其中。
中国移动,世界上最大的移动网络运营商订阅者和流媒体服务的所有者Migu视频,也是潜在的买家之一,两个问题的知情人士说。
PAG拒绝置评。中国移动没有回应记者的置评请求。
如果百度实现其价值目标,这将代表超过100%的溢价iQIYI的平均股价在过去三个月的3.97美元。流公司的股价已经下跌70%在过去的12个月里在一个更广泛的中国科技股的抛售。
交易条款尚未完成,如有更改,恕消息人士说。
百度拥有53%的iQIYI和持有超过90%的股东投票权,计划出售其持有的中国流媒体视频服务公司表示,这两个人和两个知情人士。
在纳斯达克上市的iQIYI市值为40亿美元。百度的目标估值70亿美元的整个公司的撤资将代表约每股8.13美元的价格相比,其最新的4.67美元。
四个计划的知情人士拒绝透露姓名由于保密的限制。
减持计划,而不是之前披露的百度,此前该公司认为iQIYI非核心资产,当它寻求加强其重点发展资本密集型的人工智能和自动驾驶单位,前两个消息来源说。
百度的业务范围从互联网搜索到电动汽车,向云服务与扩张,robotaxis和近年来自主驾驶,有了美国银行潜在的销售,第二条消息人士说。
百度没有回应记者的置评请求,而美国银行没有立即置评。
“这是纯粹的市场传闻,”iQIYI路透社在一份电邮声明中说,未提供进一步的评论。
股权出售计划由百度,价值近500亿美元市值的背景是中国的监管行动自2020年末以来,公司从技术、私人教育和其他领域,即打击他们的股票,并迫使一些缩减在非核心领域扩张。
iQIYI股份了最初的兴趣从多个金融赞助商和国有企业,三四个来源,说香港私人股本公司PAG其中。
中国移动,世界上最大的移动网络运营商订阅者和流媒体服务的所有者Migu视频,也是潜在的买家之一,两个问题的知情人士说。
PAG拒绝置评。中国移动没有回应记者的置评请求。
如果百度实现其价值目标,这将代表超过100%的溢价iQIYI的平均股价在过去三个月的3.97美元。流公司的股价已经下跌70%在过去的12个月里在一个更广泛的中国科技股的抛售。
交易条款尚未完成,如有更改,恕消息人士说。
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