Tencent wants it all
By Cathy Ding |
April 21, 2010, Wednesday
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Print Edition
Print Edition
TENCENT Holdings Ltd announced it will spend over 150 million yuan (US$20.8 million) to buy the remaining 40 percent stake of SZDomain, a Shenzhen-based online game developer and operator.
It first paid 29.9 million yuan for 19.9 percent in SZDomain in 2005 and later boosted it to 60 percent. The deal, which will be paid in cash and stock options, is set to be completed by June 19.
Tencent expects to boost its position in online games after buying the firm, which runs several multiplayer online role-playing games.
It first paid 29.9 million yuan for 19.9 percent in SZDomain in 2005 and later boosted it to 60 percent. The deal, which will be paid in cash and stock options, is set to be completed by June 19.
Tencent expects to boost its position in online games after buying the firm, which runs several multiplayer online role-playing games.
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