iQIYI in talks with Alibaba & Tencent for acquiring stake

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Alibaba Holding Ltd and Tencent Holdings Ltd both are eyeing to hold a mass stake in video streaming service iQIYI INC.  Both the leading companies are in talks and are holding separate meetings.  Another Chinese app, TikTok owner Byte Dance has additionally internally checked out the likelihood of effort to achieve a dominant stake in iQIYI, sources aforementioned. Another China’s akin to Netflix INC, Nasdaq-listed iQIYI features a capitalization of $16.4 billion, that values Baidu’s fifty six.2% stake at regarding $9.2 billion.

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