Rumor: Suning Enters Running to Acquire PPTV

Netease Tech, 6/04/13

Chinese consumer electronics and home appliances retailer Suning (002024.SZ) has issued a letter of intent to acquire P2P streaming video platform PPLive (PPTV), according to Netease Tech. Details of the potential transaction have yet to be announced.

According to industry sources, both Suning and Chinese e-commerce conglomerate Alibaba Group were approached by PPTV to engage in acquisition talks. The addition of Suning and Alibaba into the talks has put pressure on internet firm Sohu (Nasdaq: SOHU), PPTV's initial partner in the deal, to raise their acquisition price.

Editor's Note: For more information on this topic, please see "Rumor: Suning, Silver Lake to Buy PPTV Stake from Softbank," MD 3/28/13 and "Rumor: Alibaba in Talks to Acquire PPTV," MD 6/03/13 issues.

Keywords: Internet PPLive Suning P2P Sohu 002024.SZ Alibaba Group M&A online video

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