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Google Sells Baidu Stake

News, 26 June 2006


MOUNTAINVIEW, CALIFORNIA - Google has sold its 2.6% stake in China's leading internet search engine Baidu.com, as it plans to expand in the Middle East and North Africa and develops its own Chinese site, google.cn.

Google bought its share in Baidu for around $5million (€3.9m; £2.7m) in 2004 and has disposed of it for more than $60m.