Related News
Tencent gains stake in Russian DST
By Ding Yining |
April 13, 2010, Tuesday
|
Online Edition
Online Edition
TENCENT, operator of China's most popular instant messaging service, has gained a minority stake in a leading Russian Internet company to seek opportunities in other emerging markets.
Under the agreement, Shenzhen-based Tencent Holdings will pay US$300 million in cash for about a 10.3 percent stake in Digital Sky Technologies Ltd, the company said today.
"The investment will allow us to benefit from the fast-growing Internet market in Russia and allow DST to leverage our technical and operational experience to strengthen their leadership position," said Martin Lau, president of Tencent.
Tencent will also have 0.51 percent of total voting power at DST as well as nomination of one observer to the DST board upon completion of the deal.
Both parties will also share insights and experience in each other through their long-term strategic partnership.
DST also holds a stake in Facebook, the leading social network site, and other Internet giants and Zynga, a popular online social gaming site.
Shenzhen-based Tencent controlled 76.9 percent of China's instant messaging market in the third quarter last year, compared with Microsoft Corp's 4.5 percent market share for its MSN service.
Last week, reports quoted Russian business newspaper Vedomosti that DST and Tencent are among the three buyers to bid for American Online's instant messaging service ICQ. The two companies offered no comment on the issue.
Under the agreement, Shenzhen-based Tencent Holdings will pay US$300 million in cash for about a 10.3 percent stake in Digital Sky Technologies Ltd, the company said today.
"The investment will allow us to benefit from the fast-growing Internet market in Russia and allow DST to leverage our technical and operational experience to strengthen their leadership position," said Martin Lau, president of Tencent.
Tencent will also have 0.51 percent of total voting power at DST as well as nomination of one observer to the DST board upon completion of the deal.
Both parties will also share insights and experience in each other through their long-term strategic partnership.
DST also holds a stake in Facebook, the leading social network site, and other Internet giants and Zynga, a popular online social gaming site.
Shenzhen-based Tencent controlled 76.9 percent of China's instant messaging market in the third quarter last year, compared with Microsoft Corp's 4.5 percent market share for its MSN service.
Last week, reports quoted Russian business newspaper Vedomosti that DST and Tencent are among the three buyers to bid for American Online's instant messaging service ICQ. The two companies offered no comment on the issue.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
