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Youku Investors Approve Acquisition of China Rival Tudou

Youku Inc., China’s biggest online video company, won approval from shareholders to acquire competitor Tudou Holdings Ltd., a deal that will extend its lead over websites run by Baidu Inc. and Tencent Holdings Ltd.

Shareholders passed all resolutions at Youku’s shareholders ballot related to the all-stock transaction with Tudou, Ryan Cheung, corporate finance director at Youku, said at the meeting in Hong Kong today. He declined to elaborate on the results.