China's Search Leader Baidu Intends to Stay Independent
"China's leading search engine, Baidu.com Inc. , intends to stay independent forward, its chief executive said on Friday, quashing talk of a future takeover by partial investor Google Inc. .
Google now owns 2.6 percent of Baidu, and was believed to be seeking to boost its stake prior to the Chinese company's hugely successful initial public offering in August. Neither side had ever confirmed or denied they were in talks.
But Baidu Chief Executive Officer Robin Li told Reuters his company has no plans to let Google -- or any other company -- become a major partner, preferring to go it alone in the increasingly competitive China search market.
''Interest by the multinationals in Baidu is very natural. But I think these companies don't recognise Baidu's true potential,'' Li said in an interview. ''Baidu's independent development is the best path for now.'' "
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