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Wednesday, March 6, 2013

China's says not in talks to take the company private, (NASDAQ: SOHU)

Chinese Internet portal Inc denied a media report on Wednesday that the company is talking to investment banks and private equity funds about a possible plan to take the company private. Sohu also said it has no plans to delist its common stock from Nasdaq."No such discussions are in progress or currently contemplated," Chief Financial Officer Carol Yu said in a statement.South China Morning Post, citing four financial industry sources, reported on Wednesday that is in talks with investment banks about a possible financing plan that would take the company private. Inc. (Sohu) is a Chinese online media, search, gaming, community and mobile service group. Shares of SOHU traded higher by 11.92% or $5.2/share to $48.84. In the past year, the shares have traded as low as $33.75 and as high as $59.49. On average, 622005 shares of SOHU exchange hands on a given day and today's volume is recorded at 3914552.