- A month after the WSJ said an investor group featuring chairman Jun Lei and CEO David Xi had shelved plans for a $2.5B buyout offer (first made in July 2015), YY (NASDAQ:YY +4%) confirms the offer has been withdrawn. The investor group cites "unfavorable market conditions."
- The Chinese gaming/online media firm also says its board has authorized a $200M, 12-month, buyback program covering shares and convertible notes due 2019. It's good for repurchasing 9% of shares at current levels.