多輪談判未果 李彥宏龔宇撤回愛奇藝私有化要約

A consortium led by the chief executive officer of the Chinese online search giant abandoned its bid to buy out its video-streaming operation Inc after failing to reach an agreement "on the transaction structure and purchase price".

由中國在線搜索引擎巨頭百度公司的首席執行官領頭的買方財團，宣佈撤回之前收購視頻流媒體平臺愛奇藝的計劃，其原因是雙方在“交易結構和購買價格”等方面未達成一致。

An investor group led by Baidu CEO Robin Li and iQiyi CEO Gong Yu offered in February to acquire Baidu's 80.5 percent stake in a deal that valued at $2.8 billion.

今年2月，百度CEO李彥宏和愛奇藝CEO龔宇領導的投資集團計劃收購百度持有的愛奇藝80.5%的股份，估值爲28億美元。

The pair informed the board that they had withdrawn the offer after failing to strike a deal despite several rounds of discussions, Baidu said last Monday.

百度公司上週一表示，雙方在幾輪討論之後仍未達成協議，之後致信百度董事會撤回私有化要約。

The withdrawal came days after New York hedge fund Acacia Partners criticized the online search giant for considering selling iQiyi at a price that is "far too low". The hedge fund, which has 2.6 million Baidu shares, cited an independent research report that said the video-streaming business was worth $5.8 billion.

百度股東、紐約對衝基金Acacia Partners批評愛奇藝的出售價格“過低”。Acacia Partner持有260萬股百度股票，他引用一家獨立研究機構的報告稱，流媒體視頻平臺愛奇藝的估值爲58億美元。

Wu Tianhua, an industry observer specialized in US-list Chinese stocks, said it is quite rare to see the withdrawal of a management buyout proposal.

專注研究美國上市的中國公司股票的業界觀察者巫天華表示，管理層撤回收購方案的情況實屬少見。

Wu said that changes in regulations in China had made it difficult for loss-making companies, such as iQiyi to go public. "And it would be very pricey to list iQiyi in China through a backdoor listing," he said.

巫天華表示，中國市場規則的變動使愛奇藝這樣的虧損公司很難上市。他說道：“愛奇藝要想在中國借殼上市非常昂貴。”

Gong Yu, CEO of iQiyi, said earlier that the company had 20 million paying subscribers in June. The number is small given that the iQiyi app had around 299 million active users in May, said iResearch.

愛奇藝CEO龔宇今年6月曾表示，愛奇藝付費用戶已突破2000萬。據艾瑞諮詢表示，如果愛奇藝APP5月份的活躍用戶已經達到大約2.99億，那麼2000萬的付費用戶並不算多。