Baidu Shares Pop On China's Next Antitrust Move To Rein Alibaba, Tencent

·1 min read
  • China's Ministry of Industry and Information Technology is debating rules to make articles on Tencent Holdings Ltd's (OTC: TCEHY) WeChat messaging app available via search engines like Baidu Inc's (NASDAQ: BIDU), Bloomberg reports.

  • It could divert advertising revenue away from services like WeChat or Douyin toward search engines like Baidu.

  • China is also considering making short videos from ByteDance's Douyin show up in searches.

  • China aims to order companies from Tencent to ByteDance Ltd to permit rivals access and display their content in search results.

  • The policy could mark a significant advance to break down barriers among China's internet giants, especially Tencent and Alibaba Group Holding Ltd (NYSE: BABA).

  • It could lead to U.S. regulators requiring Facebook Inc (NASDAQ: FB) to open up public posts on WhatsApp to Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google searches.

  • Price Action: BIDU shares traded higher by 2.79% at $168.20 in the premarket session on the last check Monday.

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