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Why Baidu Is Spinning Off Another Division

Sean Allen
Why Baidu Is Spinning Off Another Division

Chinese Internet giant Baidu (BIDU) is spinning off another division. Earlier this year, it spun off its financial services business and iQiyi, its video streaming division, which went public. Baidu plans to sell a majority of its stake in the unit and will maintain 34% stake in the business, which will then raise additional capital to expand.