Chinese YouTube equivalents join forces

Former rivals Youku and Tudou become allies through a $1.2 billion merger.

Chinese YouTube equivalents join forces

China's largest online video company, Youku Inc, yesterday inked an agreement to merge with its immediate domestic rival, Tudou Holdings, through an all-share deal that is valued at more than $1 billion. The transaction will combine two companies that jointly account for one-third of China's online advertising market, yet it remains to be seen how dominant the new group will be.

The merger comes as a surprise since the two US-listed companies, which are...

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