Tuesday, October 4

Tag: RGEN

Tencent shifts focus to majority deals, overseas gaming assets for growth-sources

Tencent shifts focus to majority deals, overseas gaming assets for growth-sources

News
HONG KONG, Oct 1 (Reuters) - Tencent is resetting its M&A strategy to put more focus on buying majority stakes mainly in overseas gaming companies, as the tech giant eyes global expansion to offset slowing growth at home in China, people with direct knowledge of the matter said.Tencent Holding Ltd (0700.HK) has for years invested in hundreds of up-and-coming businesses, mainly in the onshore market. It has typically acquired minority stakes and stayed invested as a passive financial investor.However, it is now aggressively seeking to own majority or even controlling stakes in overseas targets, notably in gaming assets in Europe, the four people with direct knowledge of the matter told Reuters.Register now for FREE unlimited access to Reuters.comRegisterThe shift comes as the world's...