Google sells stake in Baidu

by admin June 23, 2006 at 11:15 am

The Internet search giant wants to concentrate on its own Chinese operations

Google has unloaded its stake in Chinese Internet search company Baidu.

The search giant has sold its 749,625 Baidu shares, which it purchased for $5m (?Ǭ£2.75m), to concentrate on expanding its own operations in China, including, Google said in a statement.

“We have disposed of our modest investment in Baidu. It has always been our goal to grow our own successful business in China and we are very focused on that,” said a Google spokeswoman.

Read more: ZDNet UK