Google has announced that it will sell its minority stake in Chinese search engine Baidu.com.
The search giant owns just 2.6 per cent of Baidu, but has decided to sell up to concentrate on its own service in the region, Google China.
Google's 2.6 per cent of Baidu is now worth $60m
Google sells stake in Baidu.com
Chinese search rival ditched in favour of Google China
vnunet.com, 23 Jun 2006
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Google will still profit from the sale, however, as shares in Baidu have risen to $80 since their opening price of $27 last year.
The $5m (£2.74m) worth of shares that Google owns are now worth more than $60m (£33m).
Google had previously dismissed rumours that it was going to close Google China because of Chinese government censorship.
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Further reading
Congress to investigate Google's China decision
Search giant's China crisis deepens
Google bows to great firewall of China
Search giant under fire for censorship
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