19 August 2019

Tencent buys into S Korean mobile-games firm, WSJ says

Tencent Holdings Ltd. has invested US$500 million in a South Korean mobile-games company, the latest move in the Chinese online-games company’s efforts to cement its position on smartphones, the Wall Street Journal reported Wednesday. The investment gives Tencent a 28 percent stake in CJ Games Corp., the report said. Tencent already is one of the largest shareholders in South Korea’s Kakao Corp., the maker of the country’s dominant mobile-messaging app, KakaoTalk, it said.

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