Tencent seals deal to tap into Russia
By Ding Yining |
April 14, 2010, Wednesday
|
Print Edition
Print Edition
TENCENT, operator of China's most popular instant messaging service, has sealed a deal to gain a minority stake in a leading Russian Internet company in an effort to seek expanding opportunities in other emerging markets.
Under the agreement, Shenzhen-based Tencent Holdings will pay US$300 million for a 10.3 percent stake in Digital Sky Technologies Ltd, the companies said.
"The investment will allow us to benefit from the fast-growing Internet market in Russia and allow DTS 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 one observer on the DST board on the completion of the deal.
Both parties will also share insights and experience through their long-term strategic partnership.
DST also holds a stake in Facebook, the social networking site, and Zynga, an online gaming site.
Under the agreement, Shenzhen-based Tencent Holdings will pay US$300 million for a 10.3 percent stake in Digital Sky Technologies Ltd, the companies said.
"The investment will allow us to benefit from the fast-growing Internet market in Russia and allow DTS 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 one observer on the DST board on the completion of the deal.
Both parties will also share insights and experience through their long-term strategic partnership.
DST also holds a stake in Facebook, the social networking site, and Zynga, an online gaming site.
- 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.
