Baidu estimates lowered at Credit Suisse Credit Suisse expects Baidu to use the $1.5B proceeds from its debt raising for M&A and lowered estimates to account for increased costs and risks. The analyst believes Baidu may be targeting Kingsoft to hedge against Qihoo (QIHU) or UCweb for its mobile search. The firm reiterates its Underperform rating and lowered its price target to $80 from $82.
Baidu rumored to buy payment operator 99Bill, Marbridge Daily says Baidu has struck a deal to acquire Chinese third-party payment provider 99Bill for RMB 2B, according to TechWeb, reported Marbridge Daily. Reference Link