- Bilibili (NASDAQ:BILI) is 3.7% lower today after Youzu Interactive denied media reports that Bilibili was discussing taking a 24% stake in Youzoo Games as well as Yoozoo's Shanghai headquarters.
- In a filing to the Shenzhen stock exchange, Youzu says the media reports are inconsistent with the facts and that the company has no information that needs to be disclosed.
- The deal was reported to approach nearly 5B yuan (about $765M).
- Bilibili is backed by tech giants Tencent Holdings (TCEHY -1.4%) and Alibaba (BABA -2.3%).