Reuters exclusively reports Weibo chairman, state firm plan to take China’s Twitter private

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Last Updated on July 9, 2021 by admin


Technology

Reuters exclusively reported that the company’s chairman and a Chinese state investor plan to take China’s answer to Twitter private. Those gains shrunk to just over 6% after the opening bell. A deal could value Weibo at more than $20 billion, facilitate shareholder Alibaba’s exit and see Weibo eventually relist in China to capitalize on higher valuations.

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Market Impact

Shares of Weibo Corp surged more than 50% in premarket trading following the Reuters report.

Article Tags

Topics of Interest: Technology

Type: Reuters Best

Sectors: Technology

Regions: Asia

Countries: China

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story



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