Baidu rules out takeover strategy

[Rubber Duck]

Last Updated: Tuesday, 19 June 2007, 16:37 GMT 17:37 UK
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Baidu rules out takeover strategy
Baidu.com office
Baidu has a 60% share of the Chinese search market
Leading Chinese search engine firm Baidu.com has said it has no plans to boost its growth by making acquisitions either at home or abroad.

Baidu is China's most-used search engine, ahead of foreign rivals such as Google, with 60% market share and steady annual growth since 2003.

"Our share has not reached its potential," chief finance officer Shawn Wang told BBC World Business Report.

"Buying rivals would dilute our rate of growth and create a loss of focus."

He added: "I do not believe we should go out and make acquisitions just because we have acquisition currency." .....

http://news.bbc.co.uk/2/hi/business/6768637.stm