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

Anusuya Lahiri

Mon, Oct 18, 2021, 9:27 AM1 min read

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

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