Lei Jun, CEO withdraw take-private proposal for China's YY
The chairman and CEO of YY, a VC-backed Chinese social networking platform, have withdrawn their take-private bid for the company. The move comes as regulators study the impact of overseas-listed companies re-listing domestically through IPOs, M&A and restructurings.
Lei Jun, YY's chairman and also co-founder of mobile phone manufacturer Xiaomi and VC firm Shunwei Capital Partners, submitted a buyout offer last July in conjunction with David Li, the company's CEO....
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