Reuters reveals JOYY’s top shareholders plan take-private deal, value firm at up to $8 bln

Reuters broke the news that JOYY Inc’s top two shareholders, its Chairman David Li and Xiaomi founder Lei Jun, plan to take the Nasdaq-listed company private in a deal that could value it at up to $8 billion. They are teaming up for the deal as they believe the Chinese social media company is undervalued in the U.S. market, three people with knowledge of the matter said. JOYY shares rose as much as 16% in heavy trading after the story was published.