Posted inBeijing, China, Middle East

Baidu to sell $1.9 billion stake in financial services unit

Let the battle commence. The fintech ecosystem is starting to become ultra competitive with the news that Baidu is selling a majority stake in its financial services business for US$1.9 billion to a consortium led by TPG Capital and the Carlyle Group. The move comes as the Beijing-based technology company, which specializes in internet-related services, products […]