Brief: JOYY Says Received Written Notice From Affiliate Of Baidu Purporting To Terminate Share Purchase Agreement, Dated November 16, 2020

JOYY

01/01/2024 13:08

Jan 1 (Reuters) - Joyy Inc  YY.O :
    * JOYY ANNOUNCES LATEST DEVELOPMENT IN SALE OF YY LIVE
    * RECEIVED A WRITTEN NOTICE FROM AFFILIATE OF BAIDU TODAY
PURPORTING TO TERMINATE SHARE PURCHASE AGREEMENT, DATED NOVEMBER
16, 2020
    * BAIDU ASSERTED IN NOTICE THAT IT HAS AND EXERCISED RIGHT
TO
TERMINATE SHARE PURCHASE AGREEMENT AND EFFECTIVELY CANCEL
TRANSACTION
    * COMPANY IS SEEKING LEGAL ADVICE AND WILL CONSIDER ALL
OPTIONS AT
ITS DISPOSAL IN RESPONSE TO NOTICE

Source text for Eikon:  ID:nGNX5z9nyc 
Further company coverage:  YY.O 

 ((Reuters.Briefs@thomsonreuters.com;))