iQIYI - a s(c) or (t)reaming deal for Tencent?
In the curiously entitled Trader “iQIYI - a s(c) or (t)reaming deal for Tencent?” Ingham Analytics say speculation that Tencent is in talks with Baidu to take a majority shareholding in iQIYI has boosted the share price of Tencent and to a lesser extent Prosus and Naspers. To put this in financial context they say that in a month Tencent has added $100bn to its market value. Can this be justified? Is there anything in it for Tencent and Baidu? What is the latest on the see-through discount that Prosus and Naspers have to the stake in Tencent? What is the best course of action for traders or long-term investors right now?
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