Google's Baidu Sale

Shares of Baidu(BIDU Quote) slumped after Google(GOOG Quote) sold its 2.6% stake in the Chinese search engine.

Baidu fell $4.86, or 5.8%, to $79.54 after Bloomberg and CNBC reported the sale. A Google spokesman and a U.S.-based Baidu representative couldn't immediately be reached for comment.

Google, which released a censored version of its service in China earlier this year, purchased a stake in Baidu in June 2004, before its public offering, according to Bloomberg. The news service estimates Google's Baidu stake to be worth more than $63 million based on yesterday's closing price. ...