Deals
Youku Shares Gain 13% on Report Tencent May Purchase Stake
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Youku.com Inc., China’s largest video website, had their biggest gain in a week in New York trading after a Chinese website reported that Tencent Holdings Ltd. may be in talks to buy a stake in the company.
Youku climbed 13 percent, the biggest advance since Aug. 11, to $27.01 in New York Stock Exchange trading yesterday. Tencent gained 0.1 percent to HK$180.00 at the 4 p.m. close of trading in Hong Kong today.